DXY (USD Index) 4hour Analysis November 27th, 2022
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall DXY is looking more bearish and now price action is looking like it’s consolidating.
Going into this week we want to continue with the recent bearish trend, we are looking for price action to commit bearish again and push toward 105.250.
From here we will look for a break below with a lower high to confirm a bearish continuation.
Trade scenario 2: If price action fails to push lower, look for a rally back up to 108.500 resistance where we will look for reactions.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall DXY is looking more bearish and now price action is looking like it’s consolidating.
Going into this week we want to continue with the recent bearish trend, we are looking for price action to commit bearish again and push toward 105.250.
From here we will look for a break below with a lower high to confirm a bearish continuation.
Trade scenario 2: If price action fails to push lower, look for a rally back up to 108.500 resistance where we will look for reactions.