DXY Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: DXY is looking very bullish as we just broke major resistance at 91.500 last week. To confirm this push we now need to see a higher low above this level.
Ideally we want to see a pullback to 91.500 with a rejection of our 31.8% fib level and strong bullish confirmation to enter long.
Look to target higher toward key resistance levels.
Trade scenario 2: For us to consider DXY bearish on the daily we need to see price action fall back below 91.500 with some lower highs to confirm the transition.
If we spot this opportunity look for price action to fall to 90.000
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: DXY is looking very bullish as we just broke major resistance at 91.500 last week. To confirm this push we now need to see a higher low above this level.
Ideally we want to see a pullback to 91.500 with a rejection of our 31.8% fib level and strong bullish confirmation to enter long.
Look to target higher toward key resistance levels.
Trade scenario 2: For us to consider DXY bearish on the daily we need to see price action fall back below 91.500 with some lower highs to confirm the transition.
If we spot this opportunity look for price action to fall to 90.000