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DXY (USD Index) 4hour Analysis October 10th, 2021

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DXY Bullish Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish

Trade scenario 1: Looking very bullish on DXY this week although we are consolidating a bit and we can see a forming symmetrical triangle.

From here we’re looking for this consolidation to break bullishly and continue higher. Look for strong bullish setups through resistance and the pattern to confirm a bullish continuation.

Trade scenario 2: Price action could also continue to consolidate for a while before making a move but if we are to consider DXY bearish we would need to see a break below support around 93.800 with a lower high below.

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