DXY short term retrace to potential support for a long position

7 juil. 2021

Have Tuesdays low, looking for a retracement between the Tuesday low and the Wednesday high, to continue an up move that will give support for Eur/Usd, Aud/Usd, and Gbp/Usd short positions.

USD #usd #tradeideas #trade

DXY

7 juil. 2021

Note

Bullish above 92.00 stop looking for 92.25 to 92.17 as support to enter on a dip.

7 juil. 2021

Note

But if 92.00 breaks and any rallies after that fail to move above 92.65, I will change my view to bearish DXY and look to go long Eur/Usd, Aud/Usd, or Gbp/Usd, depending on which is the stronger one.
Using crosses like Eur/Gbp, Eur/Aud, Gbp/Aud can help determine the stronger currency.