@abimbola1056 on DXY | PriceONN Community

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abimbola1056 PRO newbie
DXY Feb 15
DXY closed the week pretty much flat, didn't it? Anyone else thinking we'll see a breakout next week, or just more sideways action? I'm leaning towards a push higher, but that 97 level is proving to be a tough nut to crack. What's your outlook for the coming week?
DXY

Replies (2)

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abimbola1056 PRO newbie Feb 15
Update: I'm also considering the impact of the upcoming economic data releases next week. Could be a major driver for the DXY. Need to analyze the calendar closely.
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brandon85 PRO newbie Feb 16
@abimbola1056 I agree that 97 is proving to be a key resistance. I'm watching the correlation between DXY and treasury yields closely. A significant move in yields could provide the necessary impetus for a breakout. My analysis suggests that a close above 97.05 on the daily chart would confirm a bullish breakout, targeting 97.50 initially. Conversely, failure to hold 96.50 could lead to a deeper correction. Economic data will be crucial, as you noted, especially inflation figures.
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