DXY (USD Index) 4hour Analysis January 22nd, 2023
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are significantly bearish on DXY. Going into this week we’re looking to continue with the bearish trend but we are seeing some consolidation just below 102.700 that needs to play out.
Ideally, we can spot rejection from this area and identify the bearish continuation.
Trade scenario 2: If price action pushes back above 102.700 we may consider a bullish dollar with convincing structure.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are significantly bearish on DXY. Going into this week we’re looking to continue with the bearish trend but we are seeing some consolidation just below 102.700 that needs to play out.
Ideally, we can spot rejection from this area and identify the bearish continuation.
Trade scenario 2: If price action pushes back above 102.700 we may consider a bullish dollar with convincing structure.