DXY (USD Index) 4hour Analysis December 4th, 2022
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking overall bearish on DXY since the trend change that occurred around november 10th, 2022.
We ideally want to see this trend maintain and identify a clear downtrend we can use to our advantage on tradeable pairs.
Look for DXY to show signs of rejection below 105.250. If we can confirm a 4hour lower high we can confidently suggest another bearish leg down to the next support level.
Trade scenario 2: For us to look at DXY on this timeframe and consider it bullish, we would need to see a break above our 108.500 area with confirmed higher lows above.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking overall bearish on DXY since the trend change that occurred around november 10th, 2022.
We ideally want to see this trend maintain and identify a clear downtrend we can use to our advantage on tradeable pairs.
Look for DXY to show signs of rejection below 105.250. If we can confirm a 4hour lower high we can confidently suggest another bearish leg down to the next support level.
Trade scenario 2: For us to look at DXY on this timeframe and consider it bullish, we would need to see a break above our 108.500 area with confirmed higher lows above.