DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish here on the dollar but we are at key resistance near 93.800 and this recent bullish leg is a bit over extended. I think the best thing to do this week would be to wait for a pullback with a confirmed higher low.
We’ll look to enter on bullish setups that confirm the higher low and we will target back toward resistance around 93.800 for the next high.
Trade scenario 2: For us to consider USD bearish, ideally we need a break back into the lower range at least! We’re a long way from a bearish dollar so we would have to see quite a bit of bearish volume and characteristics of a strong bearish trend.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish here on the dollar but we are at key resistance near 93.800 and this recent bullish leg is a bit over extended. I think the best thing to do this week would be to wait for a pullback with a confirmed higher low.
We’ll look to enter on bullish setups that confirm the higher low and we will target back toward resistance around 93.800 for the next high.
Trade scenario 2: For us to consider USD bearish, ideally we need a break back into the lower range at least! We’re a long way from a bearish dollar so we would have to see quite a bit of bearish volume and characteristics of a strong bearish trend.