DXY - Solid Break of Support

Bryce YoungUncategorized



DXY made a bearish move last night, which is great considering our longer term biases. It broke below 94.2, our last major support. It’s passed 94, but we’ll see how this 4h candle closes. This is a new lower lower on the 4h chart, but we are approaching a longer term ascending trendline on the Daily chart. A solid break below and close below 94 will be a clear bearish sign for the dollar, which will give us some nice clean trades for next week. Be mindful of the daily timeframe which shows us the the uptrend is still intact.