DXY (USD Index) 4hour Analysis August 8th, 2021
DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re bullish on all major timeframes and we’re looking to continue with this trend. Last week we saw the market close with large bullish volume. This week we ideally want to see price action push a little higher before pulling back and forming some higher lows.
We will be comfortable considering the dollar bullish this week after we can spot a higher low above 92.500 at least.
Trade scenario 2: For us to consider DXY bearish we need to see some lower highs below the range.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re bullish on all major timeframes and we’re looking to continue with this trend. Last week we saw the market close with large bullish volume. This week we ideally want to see price action push a little higher before pulling back and forming some higher lows.
We will be comfortable considering the dollar bullish this week after we can spot a higher low above 92.500 at least.
Trade scenario 2: For us to consider DXY bearish we need to see some lower highs below the range.
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