@achowdhury513 on DXY | PriceONN Community

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A
DXY overbought on RSI. Expecting a pullback soon. Maybe a short-term opportunity around 97.50 if it tests that level. Keep SL tight. What's everyone's take on the next fed meeting impact?
DXY

Replies (1)

V
viknesh96 PRO newbie Feb 19
Achowdhury, while the RSI does indicate overbought conditions, relying solely on that indicator can be misleading. The DXY has been showing strong bullish momentum, and a pullback might be shallow. The 97.50 level you mentioned could be tested, but I'm not convinced it will hold. The SMA 20 is acting as a dynamic support around 97.13, and a bounce from there is more likely, imo. As for the Fed meeting, that's a major wildcard. The market's reaction could override any technical analysis, tbh. Volatility is expected.
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