DXY (USD Index) 4hour Analysis December 18th, 2022
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1:DXY is still holding bearish but we are approaching key resistance around 105.000 so we will be looking for reactions around this zone going into the week.
Ideally we maintain the 4hour bearish trend and see a strong reversal from 105.000. Assume a bearish dollar for the week ahead if this happen.
Trade scenario 2: For us to see DXY as more bullish we first need to see a break above 105.000 with new structure in the form of a higher low above the zone.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1:DXY is still holding bearish but we are approaching key resistance around 105.000 so we will be looking for reactions around this zone going into the week.
Ideally we maintain the 4hour bearish trend and see a strong reversal from 105.000. Assume a bearish dollar for the week ahead if this happen.
Trade scenario 2: For us to see DXY as more bullish we first need to see a break above 105.000 with new structure in the form of a higher low above the zone.