ForexLeague

DXY (USD Index) 4hour Analysis July 18th, 2021

Long
TVC:DXY   U.S. Dollar Index
DXY Bullish Idea

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

Trade scenario 1: Overall we’re looking very bullish on DXY but we are in a steady 4hour range.

From this area we’re simply looking for a bullish break and retest of the range with strong bullish setups. Look for price action to head toward 93.800

Trade scenario 2: For us to consider DXY full blown bearish it needs to form a significant lower high below 91.500.

BUT! We can spot short term bearish movement, the most likely would be a reversal at the top of this range. Price action is then likely to fall to support at 92.000 and potentially lower.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.