@jwilson394 on DXY | PriceONN Community

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jwilson394
Looking at DXY this morning, it’s consolidating nicely above the 20-period SMA around 99.69. The price action is pretty tight, suggesting we might see a breakout soon. Given the bullish sentiment from that USD strength post-inflation news and the lingering geopolitical tensions pushing safe havens, I'm leaning towards a continuation upwards. If we can push past the R1 pivot at 99.72 and hold above it, I'd expect a move towards the R2 at 99.74, maybe even higher if liquidity grabs start to clear out some shorts. RSI is sitting at 59, which is neutral but has room to run before getting overbought. Watching that 99.80 level closely for potential resistance or a breakout point.
DXY

Replies (3)

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chloeevans34 PRO newbie Apr 6
This DXY action around 99.70 reminds me a bit of last month when it was stuck in a range before that big inflation news. It held its ground then, and if it can break above the R1 pivot today around 99.68, I reckon we could see a similar surge. Just gotta be patient and wait for that confirmation.
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chloeevans34 PRO newbie Apr 6
Hey @jwilson394, I'm watching that consolidation above the 20 SMA too. It's holding around 99.69 which feels like a decent support right now. I'm just a bit worried about how close it is to the Bollinger band upper limit. Feels like it could pop, but also feels like it might just stall out there.
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FreyaCarter PRO newbie Apr 7
Hey @jwilson394, you mentioned the consolidation above the 20 SMA. It does look tight. I'm just not entirely sold on a breakout just yet, feels a bit too quiet.
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