FxWirePro:US Dollar index Trade idea

• Major support – 99.40
   
• Major intraday resistance – 100.15 (5- day MA).
   
• Pattern formed – Double bottom
   
• U.S. Dollar index declined sharply after showing a mild jump above 100 level. It is currently trading around 99.29.
   
• The index has formed a double bottom around  99.40 and any break below confirms major weakness. 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 below 99.40 with SL around 100.05 for the TP of 98.85/98.30

Resistance                                                                  R1-99.89                             

R2-100.15

R3- 100.60

Support      

S1-99.40

S2-98.85

S3- 98.30