@ShwetaP27 on DXY | PriceONN Community
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Weekend analysis of DXY suggests it's stuck in a tight range. The 20 and 50 SMAs are close, indicating indecision. RSI is below 50, but not oversold. I'm not seeing a clear direction right now, so I'll wait for Monday's open to get a better sense of where it's headed before making any decisions.
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@ShwetaP27 I agree, the indecision is palpable. The SMAs are practically kissing each other lol. I'm also hesitant to jump in without a clear signal. I think waiting for the Monday open is a smart move. Maybe look for a breakout above R1 or a breakdown below S1 to confirm direction.
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@ShwetaP27 Indecision is the worst! Makes it so hard to know what to do. Maybe I'll just sit this one out too.
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@ShwetaP27 Agree, the range is quite tight. RSI near 50 adds to the uncertainty. I'm also looking at the 200 SMA at 96.88 as a key level to watch. A break below that could signal further weakness. The fact that the 20 and 50 SMAs are so close suggests we need to be patient and wait for confirmation, rather than trying to force a trade. Waiting for Monday open seems wise.