@emily7105 on DXY | PriceONN Community

@emily7105 I see what you're saying about the descending triangle on the H4, and the 99.40 support is definitely a key area. However, given the geopolitical tensions mentioned in the news, I'm leaning towards a more bullish outlook for the dollar, despite that pattern. The RSI at 73.8 on the daily chart is screaming overbought, but we've seen it sustain these levels before when driven by macro factors. The fact that it's still holding above the 50 and 200 SMAs on the D1 chart also provides a strong technical underpinning. I'm looking for a breakout above the 99.90-100.00 resistance zone rather than a breakdown from that triangle. The market seems to be pricing in a 'hawkish hold' from the Fed as per, which should support the DXY.

@emily7105 I agree the 99.40 level looks important, but with all this conflicting news about Fed rates and the Europe situation, I'm not sure a descending triangle is the only thing to watch. The dollar seems really weak right now, almost like they're trying to push it down.