DXY Long Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: On the daily timeframe we have been bullish on the USD but we have seen a 4hour pullback to 91.950. For now it looks like price action will range before showing conviction. Look for a bounce/strong reversal from current support and break of the range. Look to target higher toward 0% and other significant resistance levels.
Trade scenario 2: For us to consider USD bearish we need to see a break of current support at 91.950. The next major support level is at 91.500 so look for USD to be bearish this week if we see that happen. If 91.950 holds this becomes invalid.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: On the daily timeframe we have been bullish on the USD but we have seen a 4hour pullback to 91.950. For now it looks like price action will range before showing conviction. Look for a bounce/strong reversal from current support and break of the range. Look to target higher toward 0% and other significant resistance levels.
Trade scenario 2: For us to consider USD bearish we need to see a break of current support at 91.950. The next major support level is at 91.500 so look for USD to be bearish this week if we see that happen. If 91.950 holds this becomes invalid.