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FxWirePro: DXY Trade idea

  • Major intraday resistance – 100.05 (trend line joining 100.88 and 100.47).
     
  • Minor support – 99.55.
     
  • DXY has shown a minor rebound from the low of 99.55 made on Mar 22nd 2017. The index jumped till 100 and started to decline from that level.
     
  •  On the lower side, any break below 99.55 will drag the pair down till 99.25/98.89 (61.8% retracement of 95.89 and 103.82).

    It is good to sell on rallies around 99.75 with SL around 100.05 for the TP of 99.25/98.85

Resistance                                                                      

R1-100.05                           

R2 -100.55

R3- 100.75

Support                   

S1-99.55                  

S2-99.25

S3-98.85

 

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