@ediFreya on DXY | PriceONN Community
E
Hi everyone, I'm still quite new to this, but I'm trying to understand the DXY's recent movements. It seems to be trending upwards, but the RSI is neutral. Does anyone have any thoughts on whether this upward trend is sustainable, or if it's likely to reverse soon? Any advice would be appreciated!
Replies
Hi @ediFreya, good question! It's tricky when the price is moving up but the RSI is neutral. It *could* mean the trend is losing steam, or it could just be a temporary pause before another leg up. I'd be cautious about assuming it will reverse immediately. Look at the Bollinger Bands – if it starts to push above the upper band (around 97.12), that might confirm the uptrend is still strong. Conversely, a break below the 20 SMA could signal a reversal. Maybe wait for more confirmation before entering a trade?
N
@ediFreya, the neutral RSI can be deceptive. It doesn't necessarily mean a reversal is imminent, just that the upward momentum isn't overbought *yet*. Look at the moving averages for confirmation. The price is above the 20, 50 and 200 SMAs which indicates a bullish bias. But combine that with fundamental analysis before making any decisions. Good luck!