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DXY:2618 trade setup

Chart pattern formed- Double top Major resistance- 96 DXY has declined till 95.15 (100 4H EMA) and started to jump from that level. It is currently trading around 95.61. The major intraday resistance is 95.67 (61.8% retr…

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DXY:2618 trade setup
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  • Chart pattern formed- Double top
     
  • Major resistance- 96
     
  • DXY has declined till 95.15 (100 4H EMA) and started to jump from that level. It is currently trading around 95.61.
     
  • The major intraday resistance is 95.67 (61.8% retracement of 95.97 and 95.15) and any break above targets 96/96.40 in short-term.
     
  • Short term trend is still weak as long as resistance 96 holds.
     
  • On the lower side major support is around 95.15 and any break below targets 94.80/94.10 in short-term.

It is good to sell at 95.60-95.65 with SL around 96 for the TP of 95.15/94.80/94.20

 

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