DXY - 06Dec2021
On the weekly, DXY bounced from the 1st Support at 95.54. We could potentially expect deeper pull back to 200MA before continuing up much higher.
On the H4 time frame, prices tested resistance at 96.40. But it is still facing bearish pressure from the descending trendline resistance. We could expect a slight bearish bias as long as prices are kept below descending trendline resistance which could drop to 1st Support at 95.405. Also noting that a potential h&s could still be in the formation.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, DXY bounced from the 1st Support at 95.54. We could potentially expect deeper pull back to 200MA before continuing up much higher.
On the H4 time frame, prices tested resistance at 96.40. But it is still facing bearish pressure from the descending trendline resistance. We could expect a slight bearish bias as long as prices are kept below descending trendline resistance which could drop to 1st Support at 95.405. Also noting that a potential h&s could still be in the formation.
This is for personal record purposes only, not financial advise or solicitation of trade.