US Dollar Index counter trend into play towards 92.65

US Dollar Index had completed its impulse rally from 92.15 through 93.40/50 levels on Friday. Further it has dropped towards 92.90 levels today, which is also the fibonacci 0.382 retracement of the above rally. If the above proposed structure holds well, the index should rally through Wave b, before reversing through Wave c towards 92.65 mark. The above structure would mark Wave 1 rally followed by Wave 2 corrective drop, before resuming Wave 3 higher. Bottom line: 92.15 should hold.

Long, stop @ 92.00, target is open


Good luck!