US Dollar Index proceeds towards 93.50/94.00 resistance

2 בספט׳ 2020

US Dollar Index could be on its way towards 93.50 after having bounced from 91.75 lows yesterday. The index might have completed a 5 wave drop from 103.00 through 91.75 and a break above 93.50 would confirm. We can expect a similar degree corrective wave at least towards 93.50/94.00 and potentially up to 97.50 levels. Once prices exceed the 93.50 mark, we shall bring in the fibonacci ratios to project the extensions.

Remain long, stop below 91.75, target remains open.

Good luck!