DXY Long Idea
The current trend on the 4hour is very bearish and is looking like a retest of the 61.8% fib level and monthly support. The overall higher timeframe trends are bullish.
From the current area we are looking for one of two situation to play out
Momentum continues to push price action lower into a deeper fib level and significant support around 96.50. Target toward that level
We see a bounce around the monthly support and 61.8% fib level, look to target toward the 100.00 area and potentially higher.
The current trend on the 4hour is very bearish and is looking like a retest of the 61.8% fib level and monthly support. The overall higher timeframe trends are bullish.
From the current area we are looking for one of two situation to play out
Momentum continues to push price action lower into a deeper fib level and significant support around 96.50. Target toward that level
We see a bounce around the monthly support and 61.8% fib level, look to target toward the 100.00 area and potentially higher.
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