@kevingarcia on DXY | PriceONN Community

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K
kevingarcia PRO newbie
DXY Feb 20
What are your thoughts on the current DXY resistance levels? It seems to be consolidating around the 97.60 mark. I'm curious to see if it will break through the R1 pivot at 97.71. A breakout could signal a continuation of the bullish trend, but a rejection might indicate a short-term pullback. What indicators are you all watching?
DXY

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K
kevingarcia PRO newbie Feb 20
Update: Further to my previous post, I've been analyzing the 1-hour chart, and it appears there's a potential for a double top formation around the 97.75 level, coinciding with R2. This could act as a significant resistance. However, the 20-day SMA is still trending upwards, providing dynamic support around 97.51. If we see a clear break above R2 with strong volume, I'd anticipate a move towards 98.00. Conversely, a failure to break above R2, coupled with a break below the 20-day SMA, could signal a deeper correction. I'll be monitoring price action closely around these key levels. Also, what is the expected news on the USD this week? That might be a catalyst.
EURUSD 1.16106 -0.17%
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BRENT 98.16 -0.73%
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