US Dollar Index remains in control of bulls since 89.20 lows registered on January 06, 2021. The index managed to rally through 91.60 before finding resistance around last week. Wave structure remains constructive for bulls with potential Waves 1 and 2 in place around 90.95 and 90.00 respectively. Alternately, Wave 2 might be still unfolding as an expanded flat and terminate around 89.80/90 in the next few days. Either way, US Dollar Index is looking set to resume its largest rally in recent times towards 94.50/95.00 levels soon.
Long against 89.20, targeting above 94.50/95.00.
Long against 89.20, targeting above 94.50/95.00.