DXY (USD Index) 4hour Analysis August 30th, 2020
DXY Short Idea
Overall we are still very bearish on DXY and will remain bearish until we see a significant break of 95.00 with a confirmed higher low above the zone.
With a bearish sentiment in mind we will be looking for further downside opportunities.
Current price action recently broke this 4hour range and is looking to make another bearish leg. Look for a confirmed lower high below the range with strong bearish setups to confirm the drop. Target lower toward significant resistance and key fib levels.
There is a less likely chance price action will pullback to form structure at the 38.2% fib level now before falling again.
Overall we are still very bearish on DXY and will remain bearish until we see a significant break of 95.00 with a confirmed higher low above the zone.
With a bearish sentiment in mind we will be looking for further downside opportunities.
Current price action recently broke this 4hour range and is looking to make another bearish leg. Look for a confirmed lower high below the range with strong bearish setups to confirm the drop. Target lower toward significant resistance and key fib levels.
There is a less likely chance price action will pullback to form structure at the 38.2% fib level now before falling again.
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