@WilliamClarke on DXY | PriceONN Community
W
Alright, looking at the DXY weekly chart, it seems to be respecting the 50 SMA around 98.70. RSI is still below 50, so no strong bullish signal just yet. I'm expecting some sideways movement next week unless we get a major catalyst. Keep an eye on that 99.1 level as potential resistance.
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W
Also wanted to add, the recent news about mixed global economic data could keep the DXY range-bound. Investors might be hesitant to make big moves until there's more clarity. From a fundamental perspective, I'm still leaning towards a weaker dollar in the long term, but that's a slow process. The short term is always a bit of a gamble. I'll be watching the 20 SMA on the daily chart around 98.78 for a potential breakout signal. If it breaks down below 98.45, we might see a test of the S1 pivot at 98.49.
Hey @WilliamClarke, thanks for sharing your analysis. I agree that 99.1 level is important, but I'm a bit worried about the RSI being so low. Could be a sign of more downside to come. As a beginner, I'm still learning how to read these indicators properly. Any thoughts on how to manage risk in this situation?