@JessicaMiller on DXY | PriceONN Community
DXY showing strength, currently trading around 97.69. The 20 and 50 SMAs are providing support, but I'm curious to hear what others think about the potential for a breakout above the R1 pivot point at 97.71. Is this rally sustainable, or are we due for a pullback?
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Update: Following up on my earlier post about the DXY's potential breakout. Considering the current bullish trend and the RSI still having room to run before hitting overbought territory, I think the R2 pivot at 97.73 is a realistic target in the short term. However, I'm also watching the Bollinger Bands closely; a close above the upper band at 97.8 could signal a temporary overextension. I'll be monitoring price action around these levels for confirmation of continued upside momentum or a potential reversal. A stop-loss order just below 97.65 would be prudent.