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US Dollar Index tests lows at 92.13 levels
US Dollar Index has remained shy by just 2 points from hitting fresh lows below 92.13 levels. The index had dropped to 92.15 levels today, before pulling back. We would be prepared for another low below 92.13, before turning bullish again. Ideally, the US Dollar Index would confirm a bottom formation only after 94.00 resistance is taken out. But with respect to the price action, a push above 93.50 would be encouraging to bulls. We shall closely watch out for a potential bottom and reversal either today or tomorrow. Good to buy on dips from here.
Remain long, stop @ 92.00, 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 @ 92.00, 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.
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