DXY Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall DXY has been very bearish on the daily timeframe and higher. Although, the 4hour timeframe has been very bullish until we saw some resistance at 90.800. For us to consider long opportunities we need price action to bounce off current support at 90.150 which will confirm a higher low. Look to enter long on lower timeframe transitions. Target higher toward key levels of resistance.
Trade scenario 2: For us to consider a bearish dollar we first need to see a 4hour transition. Ideally we want to see a lower high below 90.150 with strong bearish setups. Look to target lower toward major levels of support.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall DXY has been very bearish on the daily timeframe and higher. Although, the 4hour timeframe has been very bullish until we saw some resistance at 90.800. For us to consider long opportunities we need price action to bounce off current support at 90.150 which will confirm a higher low. Look to enter long on lower timeframe transitions. Target higher toward key levels of resistance.
Trade scenario 2: For us to consider a bearish dollar we first need to see a 4hour transition. Ideally we want to see a lower high below 90.150 with strong bearish setups. Look to target lower toward major levels of support.