DXY (USD Index) 4hour Analysis July 12th, 2020
DXY Short Idea
Overall sentiment on higher timeframes is bearish
We are now looking for continuation opportunities to the downside. Last week we saw a bearish break of our ascending triangle and price action is now establishing lower highs.
We will favor a strong bearish continuation and are looking for bearish setups at the current level. Look to target significant support around our 95.00 monthly and -27% fib level
If 97.00 is broken and retested we will re-analyze for potential bullish opportunities
Overall sentiment on higher timeframes is bearish
We are now looking for continuation opportunities to the downside. Last week we saw a bearish break of our ascending triangle and price action is now establishing lower highs.
We will favor a strong bearish continuation and are looking for bearish setups at the current level. Look to target significant support around our 95.00 monthly and -27% fib level
If 97.00 is broken and retested we will re-analyze for potential bullish opportunities
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