US Dollar still holding above 95.70 interim support
US Dollar Index is still holding above 95.70 levels, while its counterpart EURUSD is printing higher. This is a divergence scenario and a potential trend reversal as well. Looking into the price action we turn Neutral in the US Dollar Index for the moment, but it is just a matter of time before bulls are back in control. If the drop from 103.00 is unfolding as an impulse, prices will break below 95.70 before producing any corrective rallies. Have changed the counts here with potential Wave 4 termination around 97.80 levels. Bears might e inclined to break towards 94.65 as well, in the short term.
Strategy:
We prefer to remain flat for now. Looking to buy again.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
We prefer to remain flat for now. Looking to buy again.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.