DXY Short Idea
DXY has been majorly bearish on all significant timeframes and we’re looking to continue with this overall trend
Current price action has been ranging after a break of a monthly zone. From here we can see two bearish opportunities.
1.Price action pulls back to form structure at the 38.2% fib level and reverses. Look for lower highs and strong bearish setups. Target lower toward major support & fib levels.
2.Momentum continues and pushes price action lower without forming structure. Look for lower highs below the range with strong bearish setups and target lower.
For us to consider bullish opportunities we need to see a break of 95.00 followed by a confirmed higher low.
DXY has been majorly bearish on all significant timeframes and we’re looking to continue with this overall trend
Current price action has been ranging after a break of a monthly zone. From here we can see two bearish opportunities.
1.Price action pulls back to form structure at the 38.2% fib level and reverses. Look for lower highs and strong bearish setups. Target lower toward major support & fib levels.
2.Momentum continues and pushes price action lower without forming structure. Look for lower highs below the range with strong bearish setups and target lower.
For us to consider bullish opportunities we need to see a break of 95.00 followed by a confirmed higher low.