DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are very bearish on DXY. We can see a strong descending pattern on this 4hour timeframe and we are looking to continue in this direction. Ideally, we want to see a lower high form at the current level and for price action to present strong bearish setups confirming the LH. Look to target lower toward our negative fib levels.
Trade scenario 2: For us to consider DXY bullish we first need to see a break of a 4hr lower high near 90.250. Look to enter long on a confirmed higher low above this level. Target higher toward key resistance levels.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are very bearish on DXY. We can see a strong descending pattern on this 4hour timeframe and we are looking to continue in this direction. Ideally, we want to see a lower high form at the current level and for price action to present strong bearish setups confirming the LH. Look to target lower toward our negative fib levels.
Trade scenario 2: For us to consider DXY bullish we first need to see a break of a 4hr lower high near 90.250. Look to enter long on a confirmed higher low above this level. Target higher toward key resistance levels.