DXY May 22nd, 2022
Preferred Trade Path: DXY has starting to form downtrend structure on the 4 hour. Price recently formed a bearish flag which it is breaking out of now. The flag broke under strong psychological level 103.000. Would like price to continue its downtrend to reach our next psychological level of 102.000.
Alternate Trade Path: If price manages to break above psychological level 103.00, it could possibly catch it as support and bounce up to 103.500.
Alternate Trade Path: If price manages to break above psychological level 103.00, it could possibly catch it as support and bounce up to 103.500.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.