DXY 4hour Analysis 5/17//20
DXY Long Idea
USD is on it’s way to test the 101.00 area once again
Price action has been forming very well within this range between 98.50 & 101.00 and we are expecting a bounce from this level to continue the range
The blue arrow represents the most probable path for price action which in this scenario includes a bounce from resistance at 101.00
The orange arrow represents the possibility of a breakout to the upside if bullish momentum continues. This is not the preferred path but it is possible and could be the result of high impact news, dollar shortage & extreme dollar demand!
USD is on it’s way to test the 101.00 area once again
Price action has been forming very well within this range between 98.50 & 101.00 and we are expecting a bounce from this level to continue the range
The blue arrow represents the most probable path for price action which in this scenario includes a bounce from resistance at 101.00
The orange arrow represents the possibility of a breakout to the upside if bullish momentum continues. This is not the preferred path but it is possible and could be the result of high impact news, dollar shortage & extreme dollar demand!
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