@scorpuz747 on DXY | PriceONN Community
Good morning, folks. Taking a look at the DXY this morning and the RSI is definitely showing overbought conditions on the 14-day. We're also bumping up against that R2 pivot point at 97.4. Could be a good spot for a small pullback, but I'm wary of fighting the overall bullish trend. Will be watching for confirmation before considering any short positions. Risk management is key, as always.
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Update: After further review of the DXY chart, I'm noticing that the 20 SMA is providing pretty solid support around 97.3. A break below that level could signal a deeper correction, potentially down to the 50 SMA near 97.07. However, the overall trend remains bullish, and any dips could be bought up quickly. I think a cautious approach is best here – perhaps waiting for a clear break of either resistance at 97.4 or support at 97.3 before making any significant moves. Keeping my position size small and my stop loss tight, just in case. Always remember to protect your capital first!