US Dollar Index takes out resistance @ 94.00
US Dollar Index has taken out resistance at 94.00 and print highs around 94.24 toady. The index is seen to be trading around 93.96 and might be underway to produce a corrective drop towards 92.60 levels going forward. If the above is correct, the index would stay below 94.24 and push lower from here. Initial support is seen through 93.28 mark, which is also fibonacci 0.382 retracement of the rally between 91.75 and 94.24 respectively. Overall, US Dollar Index remains good to be bought on dips.
Remain long, stop below 91.75, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain long, stop below 91.75, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.