DXY (USD Index) 4Hour Analysis February, 21st, 2021
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall price action has been very bearish on significant timeframes. We can’t do much at the current level so we want to look for bearish continues after a pullback. Ideally we want to see a retest of 90.650 followed by a confirmed lower high. Look for DXY to continue down toward support at 90.000.
Trade scenario 2: For us to consider DXY bullish we need to see a break of key resistance at 90.800 with a confirmed higher low above. Look to target higher toward key resistance and prior highs.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall price action has been very bearish on significant timeframes. We can’t do much at the current level so we want to look for bearish continues after a pullback. Ideally we want to see a retest of 90.650 followed by a confirmed lower high. Look for DXY to continue down toward support at 90.000.
Trade scenario 2: For us to consider DXY bullish we need to see a break of key resistance at 90.800 with a confirmed higher low above. Look to target higher toward key resistance and prior highs.