DXY (USD Index) 4hour Analysis September 20th, 2020
DXY Short Idea
Trend: Bearish
Trade scenario 1: Price action continues to fall and breaks through support around 92.60. Look for a confirmed lower high below 92.60 with strong bearish setups. Target lower toward major support and key fib levels.
Trade scenario 2: Price action turns bullish and begins forming higher highs. Look for a break and retest of 93.30 with confirmations. Target toward the 38.2% fib level
Trend: Bearish
Trade scenario 1: Price action continues to fall and breaks through support around 92.60. Look for a confirmed lower high below 92.60 with strong bearish setups. Target lower toward major support and key fib levels.
Trade scenario 2: Price action turns bullish and begins forming higher highs. Look for a break and retest of 93.30 with confirmations. Target toward the 38.2% fib level