DXY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
1Hour Trend: Bearish
Trade scenario 1: Trading with the overall trend we will look for short opportunities. Current price action just broke 1 hour structure and crossed through the moving averages on this 4hour timeframe. Look for a lower high below 92.850 which would also confirm a head and shoulders pattern. Look to enter short on strong bearish setups after the lower high. Target lower toward major support around 91.750.
Trade scenario 2: For us to consider long opportunities we need to see a higher low confirmed above 93.300. Target higher on bullish setups toward significant resistance levels.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
1Hour Trend: Bearish
Trade scenario 1: Trading with the overall trend we will look for short opportunities. Current price action just broke 1 hour structure and crossed through the moving averages on this 4hour timeframe. Look for a lower high below 92.850 which would also confirm a head and shoulders pattern. Look to enter short on strong bearish setups after the lower high. Target lower toward major support around 91.750.
Trade scenario 2: For us to consider long opportunities we need to see a higher low confirmed above 93.300. Target higher on bullish setups toward significant resistance levels.