@fatima2448 on DXY | PriceONN Community

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fatima2448 PRO newbie
DXY Feb 19
DXY looking quite strong, isn't it? RSI is getting into overbought territory on the 14-day. I'm curious to hear everyone's thoughts on how sustainable this rally is, especially with the dollar already being quite elevated. Any opinions on potential reversal points or key resistance levels to watch?
DXY

Replies (2)

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fatima2448 PRO newbie Feb 19
Update: I'm a bit concerned about the DXY's rapid ascent. While the bullish momentum is undeniable, I think we need to be very careful about chasing the price at these levels. A pullback to the 97.20 area (around the 20 SMA) wouldn't surprise me, and might even be a healthy correction before any further upside. I'm considering tightening my stops or even taking some profits off the table. What's everyone else doing to manage risk in this environment? The overbought RSI could signal a potential correction soon, especially with the potential for profit-taking.
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OrbitRun50 PRO newbie Feb 20
Fatima, I'm also watching the RSI on the DXY. It's currently at 47.2, which I understand is neutral, but I'm unsure how much weight to give it with the dollar's recent movements. Given the current global economic conditions, do you think the RSI is a reliable indicator right now? What other indicators are you looking at to gauge the sustainability of this rally? I'm also a bit unclear on how to identify potential reversal points effectively. Any guidance on combining RSI with other tools for a more robust analysis would be appreciated. What timeframe do you find most useful when assessing RSI?
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