DXY (USD Index) 4hour Analysis December 5th, 2021
DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re bullish on all major timeframes but we can see on this 4hour timeframe that we are ranging a bit.
We want to line up with the bullish trend so we will wait until we can see a higher low above 96.300.
Trade scenario 2: If price action fails to break higher we can easily see more consolidation throughout the week.
Keep in mind the bullish trend will remain intact until we break support near 95.800
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re bullish on all major timeframes but we can see on this 4hour timeframe that we are ranging a bit.
We want to line up with the bullish trend so we will wait until we can see a higher low above 96.300.
Trade scenario 2: If price action fails to break higher we can easily see more consolidation throughout the week.
Keep in mind the bullish trend will remain intact until we break support near 95.800