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DXY (USD Index) 4hour Analysis April 10th, 2022

TVC:DXY   U.S. Dollar Index
DXY Neutral Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish

Trade scenario 1: We are still super bullish on DXY and it does not show signs of slowing just yet.

We can see price action is resting right near 100.00 resistance which is a hugely overvalued area for the dollar.

Ideally, we see some reaction from current resistance and start heading lower again. Look for a break of 99.250 support with a lower high below.

We can then expect DXY to turn bearish for the short term.

Trade scenario 2:

For us to continue seeing DXY as bullish we need to see a massive break of 100.00 resistance zone.

Look for structure above with strong bullish setups.

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