DXY (USD Index) 4hour Analysis August 14th, 2022

DXY Bearish Idea

Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish

Trade scenario 1: We are looking overall bearish since price action broke below our 106.400 zone.

We can see a bit of a pullback happening after we hit 105.000 support and ideally we reach 106.000 then see strong bearish reaction. Look for strong rejection with a confirmation of a lower high below 106.000.

Look for DXY to head lower toward major support levels.

Trade scenario 2: For us to consider DXY bullish again we would need to see a break above 106.400 with a higher low above.
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