DXY Long Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Higher timeframes for DXY are overall bearish but the daily and lower have been significantly bullish. From the current area we’re waiting for structure to form with strong confirmations in line with the recent bullish trend. Look for a reversal near 92.400 & our 38.2% fib level. Look to target higher toward key resistance levels on strong bullish setups.
Trade scenario 2: For us to consider DXY bearish again on relevant timeframes we first need to see a confirmed break of support at 92.400. Keep in mind that our most significant support level for current price action is at 91.500, our monthly zone.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Higher timeframes for DXY are overall bearish but the daily and lower have been significantly bullish. From the current area we’re waiting for structure to form with strong confirmations in line with the recent bullish trend. Look for a reversal near 92.400 & our 38.2% fib level. Look to target higher toward key resistance levels on strong bullish setups.
Trade scenario 2: For us to consider DXY bearish again on relevant timeframes we first need to see a confirmed break of support at 92.400. Keep in mind that our most significant support level for current price action is at 91.500, our monthly zone.