FxWirePro: DXY Intraday trade idea
Ichimoku analysis (Hourly chart)
DXY has formed a minor top of 98.83 yesterday and shown a minor decline of more than 30 pips. The index has formed a temporary high at 99.35 and declined till 97.86 on Sep 13th, 2019. It hits an intraday low of 98.50 and is currently trading around 98.51.
Markets eye US Conference board Consumer confidence which is to be released today at 14:00 GMT for further direction.
On the flip side, near term support is around 98.43 (200 H MA) and violation below will drag the index till 98.20/97.85.
The near term resistance is around 98.85 and any break above will take the DXY to take to the next level till 99.35/100.
It is good to sell on rallies around 98.55-60 with SL around 98.85 for the TP of 99.35.