DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: DXY is still bullish on all timeframes. We can still see that price action is overextended on the daily timeframe especially, so we have to be cautious.
The most likely scenario based on the price action we can see is that we find a higher low near 103.750 and price action bounces to a new high.
We have to confirm the higher low so be patient and wait for price action.
Trade scenario 2: The other scenario is that price action starts to correct on the daily which would send us much lower toward structure levels.
For this to happen we need to see 103.000 support break.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: DXY is still bullish on all timeframes. We can still see that price action is overextended on the daily timeframe especially, so we have to be cautious.
The most likely scenario based on the price action we can see is that we find a higher low near 103.750 and price action bounces to a new high.
We have to confirm the higher low so be patient and wait for price action.
Trade scenario 2: The other scenario is that price action starts to correct on the daily which would send us much lower toward structure levels.
For this to happen we need to see 103.000 support break.