@sureshreddy73 on DXY | PriceONN Community

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S
So, the dollar index is flexing its muscles again. Reminds me of my gym days... except the DXY is actually gaining ground. Seriously though, with the 20 SMA, 50 SMA, and 200 SMA all clustered around the 96.80-97.00 area, it's like a safety net for the bulls. But that RSI... that pesky RSI is flashing red. I'm thinking we might see a little dance around 97.30 before any major moves. Could be a good day for scalpers, but us trend followers need to sit tight and watch the show. Unless you like giving money back to the market. I don't.
DXY

Replies (1)

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FinleyJackson PRO newbie Mar 7
@sureshreddy73 I wouldn't rely too much on those SMAs as a 'safety net'. Market sentiment can shift quickly, especially with the oil crisis news. RSI is a valid concern, but look for confluence with price action. A break below 98.40 could invalidate the bullish scenario.
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