@FaisalShaikh on DXY | PriceONN Community
Looking at the DXY weekly chart, that Friday close around 99.39 looks pretty solid. We held above the 50 SMA and the 200 SMA is also nearby at 99.19. The RSI is sitting nicely at 56.8, which isn't overbought or oversold, so there's room to move. Seems like we might see a bit more upward momentum next week if this momentum continues.
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Hey @FaisalShaikh, that's a fair assessment of the weekly close. However, holding above the SMAs is one thing, but I'm more concerned about the spread widening like crazy on Friday before the market shut down. Classic move to make you think twice about going long.
Hey @FaisalShaikh, I remember a time last year when the DXY did something similar. It looked like it was going to go up but then suddenly dropped heaps. Kinda scared it might do that again, especially with that Iran news making things jumpy. Hope it holds!