DXY (USD Index) 4hour Analysis August 21st, 2022
DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking very bullish on DXY after last weeks’ massive rally.
Currently price action is just above our 107.600 zone and very extended. The likely scenario is that DXY will rally toward a new high near 109.000 before reversing.
We have to wait for structure so we can identify the strength of the trend. look for higher lows near 107.6000 after a new HH is established.
Trade scenario 2: No scenarios suggest bearish momentum at the moment. We will have to see how price action reacts at these highs first.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking very bullish on DXY after last weeks’ massive rally.
Currently price action is just above our 107.600 zone and very extended. The likely scenario is that DXY will rally toward a new high near 109.000 before reversing.
We have to wait for structure so we can identify the strength of the trend. look for higher lows near 107.6000 after a new HH is established.
Trade scenario 2: No scenarios suggest bearish momentum at the moment. We will have to see how price action reacts at these highs first.
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