DXY Is Very Bearish! Short!

Dec 3

Please, check our technical outlook for DXY.

Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is on a crucial zone of supply 106.245.

The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 105.683 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Like and subscribe and comment my ideas if you enjoy them!

Dec 5

Note

Great beginning for a trade, let’s hope it goes further!