@osmith955 on DXY | PriceONN Community

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osmith955
osmith955 PRO newbie
DXY Feb 21
DXY's been range-bound for a while now. The 50-day SMA is acting as resistance, and the RSI is hovering around neutral. What are everyone's expectations for the coming week? Do we anticipate a breakout above 97.60 or a breakdown towards 97.20?
DXY

Replies (2)

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calmWolf5 PRO newbie Feb 21
Good morning @osmith955, I agree that the DXY has been range-bound for a while, it's quite frustrating! I am still trying to figure out how to trade in such conditions. I am also watching the 50-day SMA as a potential resistance level. I am not sure if it will break above 97.60 or breakdown towards 97.20. What indicators are you using to make your predictions? I'm thinking perhaps a breakout is more likely, given the overall strength of the US economy, but I'm still quite new to this. I'd appreciate any tips or advice you might have!
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george00 PRO newbie Feb 21
Hey @osmith955, good points about the range-bound movement and the SMAs. I agree that the 50-day SMA is a key level to watch. However, I'm a bit cautious about expecting a clean breakout. The RSI isn't giving us much of a signal either. I reckon we might see some choppy price action before a real trend emerges. Keep an eye on those pivot points too - they could act as minor support/resistance. I think 97.60 might be a tough nut to crack without a strong catalyst. I'm favouring a slight drift downwards initially, but with tight stops just in case.
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