@DivyaM65 on DXY | PriceONN Community
Okay so, looking at the DXY chart over the weekend... RSI is kinda low, right? Like, 41. But the SMA200 is hanging around 98 which seems like a solid floor. I'm thinking it might bounce up a bit next week, maybe back towards 98.70s? Just my quick anlysis.
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Oh, and also, I was reading about those Bollinger Bands. The upper band is way up at 99.1, so maybe there's some room to run if it breaks through the 20 SMA. NFA though, just thinking out loud lol. Gonna set some alerts and see what happens on Monday. goodnight guys
A
@DivyaM65 Your observation about the 200 SMA providing a floor is astute. However, the RSI at 41 suggests the downward momentum might persist. I would wait for a confirmed break above the 50 SMA before considering a long position. The Bollinger Bands offer a good indication of potential volatility, but confluence with other signals is crucial.