DXY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking overall bearish since price action broke below our 106.400 zone.
We can see a bit of a pullback happening after we hit 105.000 support and ideally we reach 106.000 then see strong bearish reaction. Look for strong rejection with a confirmation of a lower high below 106.000.
Look for DXY to head lower toward major support levels.
Trade scenario 2: For us to consider DXY bullish again we would need to see a break above 106.400 with a higher low above.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking overall bearish since price action broke below our 106.400 zone.
We can see a bit of a pullback happening after we hit 105.000 support and ideally we reach 106.000 then see strong bearish reaction. Look for strong rejection with a confirmation of a lower high below 106.000.
Look for DXY to head lower toward major support levels.
Trade scenario 2: For us to consider DXY bullish again we would need to see a break above 106.400 with a higher low above.