DOLLAR INDEX (#DXY): 2 Scenarios For This Week Explained
⚠DXY closed last week at a solid daily resistance zone
Depending on the reaction of the price to that structure, I see 2 potential scenarios for this week.
Bullish Scenario
If the price breaks and closes above 106.17 resistance on a 4-hour chart, a bullish continuation will be expected to 106.89 level.
Bearish Scenario
The price may respect the underlined resistance.
105.00 is the closest strong support.
If the price drops and closes below that area,
a bearish continuation will be expected to 104.00.
Wait for a confirmation 👍
Depending on the reaction of the price to that structure, I see 2 potential scenarios for this week.
Bullish Scenario
If the price breaks and closes above 106.17 resistance on a 4-hour chart, a bullish continuation will be expected to 106.89 level.
Bearish Scenario
The price may respect the underlined resistance.
105.00 is the closest strong support.
If the price drops and closes below that area,
a bearish continuation will be expected to 104.00.
Wait for a confirmation 👍
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