DXY (USD Index) 4hour Analysis November 6th, 2022
DXY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall DXY has proven to be very bullish but we are currently seeing the 4hour timeframe as more bearish.
Going into this week we’re looking for reactions near our 110.700 zone to better determine where price action goes next.
Ideally, we would like to see a retest of 112.000 with a lower high formation to confirm more bearishness.
Trade scenario 2: For us to consider DXY bullish on the 4hour timeframe again we would need to see a break above 112.000 with a convincing higher low above.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall DXY has proven to be very bullish but we are currently seeing the 4hour timeframe as more bearish.
Going into this week we’re looking for reactions near our 110.700 zone to better determine where price action goes next.
Ideally, we would like to see a retest of 112.000 with a lower high formation to confirm more bearishness.
Trade scenario 2: For us to consider DXY bullish on the 4hour timeframe again we would need to see a break above 112.000 with a convincing higher low above.
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