DXY Resistance Approach

US dollar got strengthened in the last week and had a big rise. Currently, price was pushed to the downside and got rejected after reaching the last high which is a resistance point.

There are two scenarios:
Bearish Scenario: since price was rejected from the red resistance level, If it breaks the low of the previous 4H candle which has was closed in the form of a doji, then wait for bearish candle closure below the low of this candle at 98.700, to expect a drop towards the yellow support level around 97.950

Moreover, if this scenario happens, price will make a reversal double top pattern and in the case of a downside breakout on the neckline, we expect more drop on DXY in future.

Bullish Scenario: since we are in an uptrend, price may do some retrace and then gets ready to rise again. We should wait for the red resistance level to be broken out and bullish candle closure above the resistance level to expect a rise on price around 100 and 100.300