@david8902 on DXY | PriceONN Community
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The DXY is currently exhibiting mixed signals. The 20 and 50 SMAs are providing support, while the 200 SMA looms as potential resistance. I'm observing price action closely around these levels, looking for confirmation of a breakout or rejection before committing to a direction. A decisive break above 96.80 would signal further upside.
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Hey @david8902, that's a good point about the SMAs! I'm also watching those levels. What do you mean by 'confirmation of a breakout'? Is there a specific pattern or indicator you look for? I'm trying to get better at reading the price action myself. Cheers!
@david8902 Good analysis! I agree that the 200 SMA is a key level to watch. I'm also keeping an eye on the RSI. If it can break above 50, that might signal some bullish momentum. But tbh, I'm also waiting for a catalyst. The market feels choppy and directionless rn. A decisive break above R1 would be ideal confirmation, tho. Let's see what next week brings!