@justinyoung90 on DXY | PriceONN Community
J
DXY currently consolidating around the 96.67 mark. The neutral RSI suggests a lack of strong momentum in either direction. Watch for a break above the upper Bollinger Band at 96.81 or a drop below the lower band at 96.53 to signal the next directional move. A sustained move above 96.81 could trigger further upside towards the 200-day SMA.
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@justinyoung90, your analysis of the Bollinger Bands is insightful. I'm particularly interested in the potential breakout you mentioned. Given that the RSI is currently in overbought territory, do you believe a break above the upper Bollinger Band at 96.98 is likely to be sustained, or could we see a false breakout followed by a retracement? I am trying to understand the likelihood of a significant upward move versus a short-term spike. Perhaps monitoring the D1 chart could provide more clarity on the longer-term trend. I appreciate your thoughts on this.