DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are still bearish on DXY and structure formation at our 61.8% fib level confirms that. Now we are looking for DXY to continue with this bearish trend and push toward major support levels. If we see a break of 90.000 we will see more conviction.
Trade scenario 2: For us to consider DXY bullish we need to see a lot of confirmations but the next major support level is 90.000. This level is the deciding level for current price action because,simply, as long as we’re above 90.000 we remain more in a range rather than full blown bearish.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are still bearish on DXY and structure formation at our 61.8% fib level confirms that. Now we are looking for DXY to continue with this bearish trend and push toward major support levels. If we see a break of 90.000 we will see more conviction.
Trade scenario 2: For us to consider DXY bullish we need to see a lot of confirmations but the next major support level is 90.000. This level is the deciding level for current price action because,simply, as long as we’re above 90.000 we remain more in a range rather than full blown bearish.