DXY (USD Index) 4hour Analysis June 21st, 2020
DXY Long Idea
All higher timeframes are majorly bullish on USD although we did see a strong 4hour bearish channel push price action down toward our major support zone around 96.00
From this level we saw massive rejection followed by 1hr and now a 4hr transitions to the upside.
We will remain with a bullish sentiment and target our next major resistance zone around 98.40.
From this level we will re-analyze and see how price action reacts at that level.
All higher timeframes are majorly bullish on USD although we did see a strong 4hour bearish channel push price action down toward our major support zone around 96.00
From this level we saw massive rejection followed by 1hr and now a 4hr transitions to the upside.
We will remain with a bullish sentiment and target our next major resistance zone around 98.40.
From this level we will re-analyze and see how price action reacts at that level.
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