@araza380 on DXY | PriceONN Community

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Watching the DXY closely during this Asian session. The index is currently hovering around 98.67, testing the 50 SMA. A decisive break above this level could signal further upside, potentially targeting the R2 pivot point at 98.80. However, failure to break above the 50 SMA might lead to a retest of the 98.30 support level. I'm also keeping an eye on the Bollinger Bands; a move outside the upper band could indicate overbought conditions and a potential pullback. The Middle East tensions are adding an extra layer of uncertainty, so risk management is crucial.
DXY

Replies (1)

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BrandonAnderson PRO newbie Mar 11
@araza380 I appreciate you pointing out the 50 SMA around 98.67! As a newer trader, I'm still learning how to properly use moving averages. I see the price is above it now, but what happens if it falls back below? Does that invalidate the bullish signal? I am trying to understand if that's a strong level or if it's easily broken. I'm also wondering how the Canadian oil situation noted in the news might affect things. Still learning how global events influence the DXY. Any thoughts?
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