DXY Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Recent price action has been very bullish lately on DXY.
Going into this week we can see price action continuing bullish after we see a reversal around recent broken structure & our 61.8% fib level near 93.250. How price action reacts here will determine the next 4hour trend.
Either a continuation or reversal.
Trade scenario 2: If we do price action push lower we can declare this recent formation around 93.800 a daily reversal and NOT a daily continuation. Expect to see more downward pressure.
We will be targeting support around 91.500 as that is the next major daily support level.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Recent price action has been very bullish lately on DXY.
Going into this week we can see price action continuing bullish after we see a reversal around recent broken structure & our 61.8% fib level near 93.250. How price action reacts here will determine the next 4hour trend.
Either a continuation or reversal.
Trade scenario 2: If we do price action push lower we can declare this recent formation around 93.800 a daily reversal and NOT a daily continuation. Expect to see more downward pressure.
We will be targeting support around 91.500 as that is the next major daily support level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.