DXY (USD Index) 4hour Analysis November 20th, 2022
DXY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we have been very bearish on DXY and last week was spent consolidating at this new low.
Going into this week we’re looking for lower highs closer to 108.500 resistance. If we see this we can confidently say DXY will continue bearish.
Trade scenario 2: The other likely scenario is that DXY continues to fall without structure.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we have been very bearish on DXY and last week was spent consolidating at this new low.
Going into this week we’re looking for lower highs closer to 108.500 resistance. If we see this we can confidently say DXY will continue bearish.
Trade scenario 2: The other likely scenario is that DXY continues to fall without structure.