Will look for shorting opportunity in case of a breakout to the downside on the lower timeframe.
Bullish momentum is still intact look for sell only in case of a breakout.
👇 Follow for more daily forex content and education 💪
Good luck to you!
Don't forget to like and share, it really helps.
This is just an idea, not financial advice.
DXY has bottomed out around the 89.50 level and has continued to grind higher since. The next level that we took out was the 89.90 level which now acts as support and the upward trend line and pivot area. I expect a move higher in the dxy in the coming weeks and therefore I will sell the rallies in EURUSD and AUDUSD and buy the dips in USDJPY.
Price is currently being rejected at resistance so we can look for sells on the lower time frames, but once broken we can buy to the next level of resistance marked on the chart
Be aware that this is on an uptrend but you can scalp a profit off the 1h or 30m