@lily3153 on DXY | PriceONN Community
Weekend review on the DXY. Friday's close above the 50-day SMA at 99.48 was a good sign, holding that level is key. The pivot point at 99.68 also held, which is encouraging. Looking ahead to Monday, I'm watching the 20-day SMA at 99.71 as immediate resistance. If we can break and hold above that, we might see a move towards R1 at 99.74. The jobs data on Friday definitely gave it a boost, but let's see if that momentum carries over or if it was just short-covering before the weekend.
Replies
Hey @lily3153, agree that holding 99.68 is important. But honestly, these SMAs and pivots are just noise for the algos. They'll sweep the lows or hunt stops whenever they feel like it. Friday's close means nothing until Monday's open shows us the real price. Watch for that gap.
Hey @lily3153, I saw that closing print above the 50 SMA too, definitely a positive sign for the bulls. But I'm with @angushall58 on this one a bit – the sheer volume of algo activity around these key levels can be brutal. I’ve got a short from 99.70 and watching that R1 at 99.72 like a hawk, hoping it acts as resistance now. This Middle East news is definitely adding fuel to DXY’s fire though.