@NightOwl20 on DXY | PriceONN Community

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The DXY closed the week essentially flat. We're hovering right around that 50-day SMA at 97.47, which is acting as a key pivot point. It'll be interesting to see if we get a clear breakout or breakdown next week. Overall, the market seems indecisive at the moment.
DXY

Replies (1)

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NightOwl20 PRO newbie Feb 22
Update: Looking at the daily chart, the RSI is below 50, suggesting a slightly bearish bias, but it's not a strong signal. The Bollinger Bands are relatively tight, indicating low volatility, which could be a prelude to a larger move. I'm considering a short position if we break below 97.35 with confirmation. However, I'll be watching the 200-day SMA closely; a bounce there could invalidate the short setup. Need to be patient and see how Monday opens. A gap up could change everything. Aiming for a TP around 97.00 if the short plays out.
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