DXY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes still point bullish but last week we saw price action drop on the 4hour toward the bottom of the range.
At the current level we could see price action continue to consolidate within this range but ideally some bullish setups are needed otherwise price could continue to drop.
Trade scenario 2: For us to consider dxy full bearish we would need to push lower right now. If we can spot some lower highs below the range it’s likely price action will drop to support around 91.500.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes still point bullish but last week we saw price action drop on the 4hour toward the bottom of the range.
At the current level we could see price action continue to consolidate within this range but ideally some bullish setups are needed otherwise price could continue to drop.
Trade scenario 2: For us to consider dxy full bearish we would need to push lower right now. If we can spot some lower highs below the range it’s likely price action will drop to support around 91.500.