U.S. Dollar IndexShort
DXY 1H LEVELS - 23/08/2023
As you probably know already, DXY analysis is very important for USD pairs
Here are some scenarios:
Wait for DXY to go to 103.8 resistance zone, then see the reaction of it
If we see a good breakout and 103.8 stays as support, then XAUUSD and EURUSD will be bearish and I will be looking for short entries
But if we see a rejection from 103.8 resistance zone, then I will take scalp long
*Not financial advice
**Always use proper risk management
***Never enter a position without waiting for confirmation on the lower time frame first
(15m, 5m, 3m, 1m)
Here are some scenarios:
Wait for DXY to go to 103.8 resistance zone, then see the reaction of it
If we see a good breakout and 103.8 stays as support, then XAUUSD and EURUSD will be bearish and I will be looking for short entries
But if we see a rejection from 103.8 resistance zone, then I will take scalp long
*Not financial advice
**Always use proper risk management
***Never enter a position without waiting for confirmation on the lower time frame first
(15m, 5m, 3m, 1m)
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