@oliversmith76 on DXY | PriceONN Community
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Good afternoon, all. I was just reviewing a technical analysis video on YouTube discussing the DXY's recent upward momentum, particularly how it's respecting the 20-day SMA around 99.27. The presenter seemed cautiously optimistic, suggesting that if it holds above the 99.50 level, we might see further gains towards the R1 pivot. Worth keeping an eye on.
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Following up on that, the RSI at 66.8 does suggest some bullish strength, but it's not yet in overbought territory. I'm still a bit skeptical about a sustained rally without a clear catalyst, especially given the wholesale price data indicating persistent inflation. That could lead to some hawkish surprises from the Fed, which would naturally boost the dollar.
Hey @oliversmith76, I saw your post about the DXY and the 20-day SMA. I'm a bit nervous because I just entered a short position around 99.10 earlier today. I've managed to move my stop loss down to breakeven at 99.10 as well, just in case it reverses hard. Hoping this geopolitical news continues to weigh on it.