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DXY (USD Index) 4hour Analysis January 1st, 2023
DXY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on the USD as we enter the new year. We ended the year with some consolidation near our 103.800 zone followed by a recent break of 103.800.
Looking into this week it’s likely we will see the USD continue bearish. Look for lower highs to confirm further downside movement.
Trade scenario 2: For us to see the USD as bullish again on this 4hour timeframe we need to see higher lows above 103.800 with convincing price action.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on the USD as we enter the new year. We ended the year with some consolidation near our 103.800 zone followed by a recent break of 103.800.
Looking into this week it’s likely we will see the USD continue bearish. Look for lower highs to confirm further downside movement.
Trade scenario 2: For us to see the USD as bullish again on this 4hour timeframe we need to see higher lows above 103.800 with convincing price action.
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