DXY (USD Index) 4hour Analysis October 3rd, 2021 DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action is very bullish after a large rally from last week. We saw a significant push above 93.800 and now we’re waiting for a higher low to confirm structure.
If we can confirm a higher low near 38.2% and new support at 93.800 we will be looking at a bullish dollar into next week.
Trade scenario 2: For us to consider the dollar bearish again we would need to see a break back below 93.800. If we can confirm a lower high below it’s likely we will see price action fall.
