DXY Long Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: 4hour momentum continues bullish and confirms the break above 93.850. This will confirm a 4hour break of structure and will clear us to look for long opportunities. Look to enter long on a higher low above 93.850 and target toward our daily key resistance around 94.700
Trade scenario 2: Price action fails to close above this level and reverses. Look for a lower high to form below our 93.750 zone and ideally the moving averages as well. Target lower toward prior lows and key support.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: 4hour momentum continues bullish and confirms the break above 93.850. This will confirm a 4hour break of structure and will clear us to look for long opportunities. Look to enter long on a higher low above 93.850 and target toward our daily key resistance around 94.700
Trade scenario 2: Price action fails to close above this level and reverses. Look for a lower high to form below our 93.750 zone and ideally the moving averages as well. Target lower toward prior lows and key support.