DXY Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall we are still very bearish on the USD but we have seen some rallying on the 4hour timeframe. Current price action is at our daily resistance level 90.800. For us to consider safe long opportunities we ideally want to see a higher low above 90.800. Look to enter long on bullish confirmation and target higher toward key levels of resistance.
Trade scenario 2: For us to consider short opportunities we need to identify a major transition. We want to see a lower high form below 90.150 before we enter. Look to enter short after bearish confirmation and target lower toward major support.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall we are still very bearish on the USD but we have seen some rallying on the 4hour timeframe. Current price action is at our daily resistance level 90.800. For us to consider safe long opportunities we ideally want to see a higher low above 90.800. Look to enter long on bullish confirmation and target higher toward key levels of resistance.
Trade scenario 2: For us to consider short opportunities we need to identify a major transition. We want to see a lower high form below 90.150 before we enter. Look to enter short after bearish confirmation and target lower toward major support.