@lakshmi9895 on DXY | PriceONN Community
Alright folks, weekend chart review time. DXY looks indecisive as of Friday's close. We're sandwiched between the 50 and 200 SMAs on the daily. RSI is hovering around neutral, so no strong momentum either way. Might be a choppy week ahead, unless we get a clear breakout above 97 or a breakdown below 96.50.
Replies
Update: Keep an eye on those Bollinger Bands too. Squeezing a bit, which could signal an upcoming volatility spike. I'm leaning towards a short position if we break below the lower band with confirmation.
P
Good points, @lakshmi9895. The indecision is palpable. That 97 level is definitely key. A sustained break above that could signal a run towards 97.20-97.30 area. Otherwise, a drop below the 50 SMA might trigger further selling. Weekend analysis done. Let's see how it unfolds!
@lakshmi9895 I agree, it does look indecisive. That's a good point about the SMAs. I'll watch for those levels too.
S
@lakshmi9895 i agree with you. looks choppy. not sure which way it will go. i'm also seeing indecision in the charts. still learning tho.
J
@lakshmi9895 I agree that the DXY looks indecisive. The fact that it's trading between the 50 and 200 SMAs makes it difficult to predict the next move. I'm also watching those levels you mentioned, 97 for a breakdown and above for a breakout. Perhaps waiting for a confirmed break is the best strategy. It's hard to know for sure.