DXY (USD Index) 4hour Analysis October 18th, 2020
DXY Long Idea
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with the 4hour bullish trend. Look for a confirmed break and retest of 94.000. If this happens we could see a push toward 95.000.
Trade scenario 2: We see a reversal at the current level. To confirm a bearish leg, look for a lower high below 93.600
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with the 4hour bullish trend. Look for a confirmed break and retest of 94.000. If this happens we could see a push toward 95.000.
Trade scenario 2: We see a reversal at the current level. To confirm a bearish leg, look for a lower high below 93.600