Dollar Index Trade Idea

• Long term harmonic Pattern:  Bearish Butterfly Pattern
  
  
  
• Short term Harmonic Pattern- Bullish Cypher pattern
  
  
  
• Long term Potential Reversal Zone -101.52 (161.8% retracement of 98.33 and 93.16)
  
  
  
• Short term Potential Reversal Zone - 100.55 (161.8% retracement of 99.85 and 98.73)
  
  
  
• DXY has made a high of 100 and slightly retreated from that level. Short term trend is bearish as long as resistance 100.60 holds.
  
  
  
• Any break above 100.60 will take the pair to new level 101.55.
  
  
  
• The Dollar index minor support is around 99.50 and break below targets 99.20/98.70/98.35/97.40

It is good to sell on rallies around 99.95-100 with SL around 101.50 for the TP of 98.70/97.40       

R1-100

 R2-100.55

R3-101.52

Support

S1- 99.50

S2-98.70

S3-98.30