DXY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are still super bullish on DXY and it does not show signs of slowing just yet.
We can see price action is resting right near 100.00 resistance which is a hugely overvalued area for the dollar.
Ideally, we see some reaction from current resistance and start heading lower again. Look for a break of 99.250 support with a lower high below.
We can then expect DXY to turn bearish for the short term.
Trade scenario 2:
For us to continue seeing DXY as bullish we need to see a massive break of 100.00 resistance zone.
Look for structure above with strong bullish setups.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are still super bullish on DXY and it does not show signs of slowing just yet.
We can see price action is resting right near 100.00 resistance which is a hugely overvalued area for the dollar.
Ideally, we see some reaction from current resistance and start heading lower again. Look for a break of 99.250 support with a lower high below.
We can then expect DXY to turn bearish for the short term.
Trade scenario 2:
For us to continue seeing DXY as bullish we need to see a massive break of 100.00 resistance zone.
Look for structure above with strong bullish setups.