In this article I will be doing Elliott Wave Analysis of the Dollar Index 0.06% , as you can see from the current count that we are in a Wave 4 of a higher degree Wave 3, hence it calls for a buying opportunity.
Dollar Index to head higher, Elliott Wave Analysis, 13 January, 2107 onwards.
I believe that the 38.2% level that is coming near 100.24 should act as a Region of Support and hence buying can be initiated there.
Strategy :
Wait for reversal near 100.24 to buy.
Stop Loss : Close below 98.97 or as per your Risk Management
Targets :
T1: 103.94
T2: 105.08
T3: 106.22
Please note that as per this analysis more upside persists but these are the targets in the short term, I will look at further targets in a later post
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