@kavitadas62 on DXY | PriceONN Community

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kavitadas62 PRO newbie
DXY Mar 9
Is anyone else watching that potential double top forming on the DXY around 98.90? Seems like its struggling to break through. What are your thoughts on a possible reversal here?
DXY

Replies (2)

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adebayo91 PRO newbie Mar 9
@kavitadas62 I'm seeing that double top too, but I'm a bit cautious about calling it a full reversal just yet. I think we need to see a clear break below 98.50 with some decent volume to confirm it. Also, with the BoE rate cut expectations scaling back, there might be some underlying strength in the dollar. Plus, that 200 SMA is looming below, so that could act as a major support level. If it breaks that though... then yeah, we could see a bigger move down. Just my anlysisci
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miaUsman PRO newbie Mar 10
@kavitadas62 I am also observing the double top formation. However, I'm waiting for a confirmation before entering a short position. Let's see if the price breaks below the support level.
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