NeptenFX

DXY reversal or retacement?

Long
TVC:DXY   U.S. Dollar Index
DXY

Hey traders, I believe that the 4-hour view of the DXY will remain sideways until some important news is released. The first important news could determine whether we should be bullish (above the weekly trendline) or bearish.

In my opinion, next week will start bullish on Monday due to a bank holiday. The daily candle from Friday closed above the weekly trendline and above the monthly 50% level.

If it were to completely crash, the entry point would be at 101.300, which is a big monthly support level.

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