DXY (USD Index) 4hour Analysis December 11th, 2022
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1:Looking bearish going into this week and price action is currently right where we want it.
Going into this week we ideally want to see strong rejection from our 105.000 resistance level. This would give us confidence that the USD will continue bearish for at least the next week.
Trade scenario 2: For us to see DXY as bullish we would need to see a break back above 105.000 with a higher low above.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1:Looking bearish going into this week and price action is currently right where we want it.
Going into this week we ideally want to see strong rejection from our 105.000 resistance level. This would give us confidence that the USD will continue bearish for at least the next week.
Trade scenario 2: For us to see DXY as bullish we would need to see a break back above 105.000 with a higher low above.