DXY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: The dollar is officially bearish on all major timeframes and is looking to continue with this trend. We recently saw the daily transition on a break and retest of 91.500 which was confirmed by a double top. At the current level, as long as price action is below 91.500 the usd is bearish. Look to target lower toward major support levels.
Trade scenario 2: For us to consider DXY bullish we first need to see a break of 91.500 with a higher low above. If we see proper confirmation, look to target higher toward the 92.500 area.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: The dollar is officially bearish on all major timeframes and is looking to continue with this trend. We recently saw the daily transition on a break and retest of 91.500 which was confirmed by a double top. At the current level, as long as price action is below 91.500 the usd is bearish. Look to target lower toward major support levels.
Trade scenario 2: For us to consider DXY bullish we first need to see a break of 91.500 with a higher low above. If we see proper confirmation, look to target higher toward the 92.500 area.