DXY (USD Index) 4hour Analysis January 16th, 2022
DXY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Looking very bearish here on DXY as we recently saw a bearish break of a large 4hour range.
Ideally, we can see price action pullback to 95.800 and form a lower high with strong bearish candlestick setups. This would confirm further bearish movement down to major support levels.
Trade scenario 2: For us to consider DXY bullish we first would need to spot a break back into the range between 95.800 & 96.300.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Looking very bearish here on DXY as we recently saw a bearish break of a large 4hour range.
Ideally, we can see price action pullback to 95.800 and form a lower high with strong bearish candlestick setups. This would confirm further bearish movement down to major support levels.
Trade scenario 2: For us to consider DXY bullish we first would need to spot a break back into the range between 95.800 & 96.300.
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