The DXY daily chart has hit a key resistance Level which has been tested multiple times in the past. A great area to look for Shorts or Longs depending on how price action plays out.
I do not trade the DXY, I simply look at this as an indication if there is possible dollar strength or weakness.
Whilst typing this, the Daily is rejecting the 97.20 resistance area and creating a pin bar, potential short opportunities if the daily candle closes in this state.
This would indicate that there's about to be some dollar weakness, possible EURUSD longs would be on the cards if the pin bar also completes on that Daily chart.
**Chart is EURUSD not DXY, due to me being a newbie at this stuff, sorry.**
**Trade Ideas Only.**
I do not trade the DXY, I simply look at this as an indication if there is possible dollar strength or weakness.
Whilst typing this, the Daily is rejecting the 97.20 resistance area and creating a pin bar, potential short opportunities if the daily candle closes in this state.
This would indicate that there's about to be some dollar weakness, possible EURUSD longs would be on the cards if the pin bar also completes on that Daily chart.
**Chart is EURUSD not DXY, due to me being a newbie at this stuff, sorry.**
**Trade Ideas Only.**
