FxWirePro:US Dollar Index forms double top at 102.25, good to buy on dips
Pattern formed – Double Top (102.26). Major support –101.40 (21- day EMA). U.S. Dollar index formed a double top around 102.26 and decline slightly from that level. It is currently trading around 102.12. On higher side, …
U.S. Dollar index formed a double top around 102.26 and decline slightly from that level. It is currently trading around 102.12.
On higher side, next immediate resistance is around 102.26 (Mar 2nd 2017 high) and any break above will take the index till 102.95 (Jan 1st 2017 high)/103.82 (Jan 3rd 2017 high).
The major intraday support is around 101.40 (21- day EMA) and any break below targets 100.60/100/99.25 (23.6% fibo).
Short term bullish invalidation only below 98.
It is good to buy on dips around 102 with SL around 101.40 for the TP of 102.95/103.80
