DXY - Watch For Bears 🧸

Last week we saw DXY hit the -0.27 fibonacci level and ascending channel resistance.

We are now expecting weakness from here to atleast the ascending channel support, where we will reassess DXY and see if we can breakdown completely or bounce from there.


Here is a quick breakdown on how to use DXY.
1. Analyse DXY for reversal zones and identify what the next move is
2. On this chart we can see that DXY is indicating bearish price action
3. Now that DXY is at an important level, go on to your USD pairs and analyse them
4. Find out if there's any XXXUSD LONG ideas or if there's any USDXXX pairs that are at the best place to SELL
5. Correlate the DXY movement with the USD charts e.g. DXY showing bearish price action which makes EURUSD buy a great idea as EURUSD is at a key level.

We will be looking at the following trades this week:
- EURUSD Long
- GBPUSD Long
- USDJPY Short

See if you guys can find any other USD set ups with the bias of USD weakness.

Goodluck and as always, trade safe!

Comment:

GBPUSD

Comment:

EURUSD