DXY (USD Index) 4hour Analysis November 13th, 2022
DXY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking newly bearish on DXY as last weeks’ volume sent the dollar into a downtrend.
Going into this week we’re looking to see if this new trend will stick or not.
Ideally, for more clear price action, we want to see a retest of 108.500 with a formation of a lower high below.
Trade scenario 2: In the scenario where we don’t see a retest this week, it’s most likely that price action will keep falling until it finds it’s true lower low.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking newly bearish on DXY as last weeks’ volume sent the dollar into a downtrend.
Going into this week we’re looking to see if this new trend will stick or not.
Ideally, for more clear price action, we want to see a retest of 108.500 with a formation of a lower high below.
Trade scenario 2: In the scenario where we don’t see a retest this week, it’s most likely that price action will keep falling until it finds it’s true lower low.
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