FxWirePro:US Dollar index Trade idea

• Major support – 99.40
   
• Pattern formed – Double bottom
   
• U.S. Dollar index declined sharply after breaking the major support at 99.79 low made on Jan 26th 2017 low. It is currently trading around 99.56.
   
• Short term trend is slightly bullish as long as support 99.40 holds. Any break below 99.40 will drag the index down till 98.85 (61.8% retracement of 103.82 and 95.89)/98.54.
   
• On the higher side, any break above 99.89 (100- day EMA) will take the index till 100.18 (5- day MA) /100.60 (trend line joining 103.82 and 102.95).
   
• Short term bullish invalidation only below 98.    
  
  It is good to sell on rallies around 99.95-100 with SL around 100.60 for the TP of 98.85/98.30

Resistance                                                                  R1-99.89                             

R2-100.18

R3- 100.60

Support      

S1-99.40

S2-98.85

S3- 98.30