Looking at DXY, it seems like R2 is a key level around 97.44. If it breaks that, we could see a further push up. RSI is overbought, so maybe a short-term pullback first? I'm watching for a potential long entry after a slight dip, targeting the next resistance level. Just my 2 cents.
Okay, so thinking about this a bit more... with the RSI so high on D1, a deeper correction might be in the cards. Maybe a drop back to the 50-SMA around 96.97 before any serious upward move? It's important not to get tunnel vision just because it's trending up now. The overbought condition can't last forever. I'm adjusting my plan to wait for a clearer signal, maybe a bounce off that 50-SMA, before going long. Gotta be patient and not FOMO in! Plus, remember to always use a stop loss, ppl. Protect your capital!
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meiling1990PROnewbieFeb 19
Update: I'm also considering the SMA values as support levels if it pulls back. The 20-SMA at 97.13 seems like a reasonable first target for support. I'll wait for some confirmation before jumping in, though. Don't want to get caught in a fakeout!