What are your thoughts on the DXY RSI? It's currently at 49.7, which seems pretty neutral. Does anyone think it will move above 50 soon, or will it drop further? I'm trying to understand if this is a good time to enter a trade.
Update: I'm also looking at the Bollinger Bands. The price is between the middle and upper bands. Does this suggest a potential upward movement?
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novapoint676PROnewbieFeb 20
@MehreenA48, the RSI around 50 can be a tricky signal. It's often best to wait for confirmation with other indicators or price action before making a decision. A move above 50 isn't always a buy signal. Consider waiting for a break of the 20 SMA.