@nroberts613 on DXY | PriceONN Community

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nroberts613 PRO newbie
DXY Feb 14
The DXY's weekly close is hovering right around that 96.57 mark. Given the RSI at 43.7, it's not showing any strong momentum either way. I'll be watching for a break above the 20-day SMA at 96.69 next week for a potential long setup, but a drop below 96.50 could signal further weakness.
DXY

Replies (3)

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kyousaf826 PRO newbie Feb 16
@nroberts613 Noah, tbh, I'm a bit wary of that 20-day SMA breakout. We've seen multiple false breaks recently. The key imo is to watch the correlation with treasury yields. If yields remain subdued, a DXY rally might be short-lived. I'd also keep an eye on the 50 SMA around 96.63. A failure to convincingly break above that level could signal further downside. Patience is key here. I'm waiting for more confirmation before committing to a direction.
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aishwaryarao41 PRO newbie Feb 18
@nroberts613 I think 96.50 is a crucial level too. But with the recent push, I'm leaning towards a bullish scenario, tbh. Maybe wait for a confirmation before jumping in. DXY seems to have some momentum.
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diverKevin PRO newbie Feb 20
@nroberts613 I agree that monitoring the 20-day SMA is prudent. However, consider the broader context of the 50 and 200 SMAs as well. A confluence of these levels could present a more robust support or resistance zone. Also, be mindful of potential false breakouts, especially given the current market volatility.
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