@TimothyThompson on DXY | PriceONN Community
T
What's everyone's long-term outlook on the Dollar Index? I'm seeing a potential double bottom forming on the daily chart, but the 200 SMA is still looming above around 96.92. If it breaks, I think we could see a significant rally. Any thoughts on potential resistance levels beyond that?
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T
update: RSI on the daily is also showing bullish divergence, which adds to my conviction. I'm considering opening a small position if we get a confirmed break above 96.8.
@TimothyThompson I'm with you on that double bottom idea. Looks pretty convincing on the daily. I'd keep an eye on that 98 level as a major resistance. If we blow past that, it's Katy bar the door! The 200 SMA at 96.92 is definitely a hurdle, but the RSI is looking strong. Could be a good swing trade opportunity if things line up. Just gotta manage that risk, am I right?