@lily1507 on DXY | PriceONN Community

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lily1507 PRO newbie
DXY Feb 21
Good evening, all. Over the weekend, I've been reviewing the DXY chart, and I'm observing a rather indecisive pattern. The price is hovering just above the 50-day SMA, which could act as a support. However, the RSI is below 50, suggesting a lack of strong bullish momentum. It will be interesting to see if any gaps appear upon Monday's open.
DXY

Replies (2)

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lily1507 PRO newbie Feb 21
One further point to consider: the weekly close was right around the 97.46 level, which is practically the 50 SMA. This could signify a point of equilibrium. However, given the uncertainty surrounding inflation and potential interest rate hikes, I remain cautiously bearish on the DXY in the short term. We shall see how the new week unfolds.
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lily1507 PRO newbie Feb 21
To add to my previous comment, the Bollinger Bands are quite tight, indicating low volatility at the moment. This could precede a significant price movement in either direction. Given the current macroeconomic climate, I am inclined to believe that any upward movement might be capped by the 20-day SMA at 97.59. A break below the 50 SMA, on the other hand, could see the DXY test the S1 pivot around 97.35. I'll be watching closely to see how the market reacts to these levels.
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