Ichimoku Analysis (4-hour chart)
Tenken-Sen- 110.50
Kijun-Sen- 99.87
DXY is trading in a narrow range between 100.85 and 100.50 for the past 2 days. The minor trend is still bullish as long as support 99.90 holds. It hits an intraday low of 100.48 and is currently trading around 100.74.
The index has taken support near Tenken-Sen and shown minor jump. The near term resistance is around 100.85 and indicative break above targets 101.35/101.79.
On the flip side, minor support is around 100.50 and violation below will drag the DXY till 99.90/99.26/98.97.
It is good to buy on dips around 100.45-50 with SL around 99.90 for the TP of 101.79.
