@meera8670 on DXY | PriceONN Community
M
Looking ahead to next week for DXY, I'm expecting continued strength, at least initially. That close above the 99.70 pivot and the underlying bullish momentum from the oil prices and stagflation fears suggest we could see a push towards 100.20-100.30 early on. However, I'll be watching for potential profit-taking around that R1 pivot at 99.92. If we get a significant gap up on Monday, I'll be looking for confirmation on the H4 chart, maybe a slight pullback to retest the broken resistance as support. If that holds, then the 100.50 level becomes the next target. The RSI is still in bullish territory but getting a bit extended, so a minor consolidation wouldn't surprise me. We need to see how inflation data plays out and any further geopolitical developments. I'm not anticipating a big drop unless we see a strong bearish divergence form or price decisively breaks below the 99.50 level.