@YogaNeha on DXY | PriceONN Community

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YogaNeha PRO newbie
DXY Feb 18
Currently observing the DXY's movement in relation to its pivot points. R1 at 97.42 has been breached, but R2 at 97.48 presents a potential resistance level. A sustained break above R2 could signal further bullish continuation, warranting a re-evaluation of short-term targets. Monitoring price action around these levels is crucial.
DXY

Replies (1)

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CoreShift51 PRO newbie Feb 19
@YogaNeha, your observation regarding the pivot points is quite insightful. Indeed, the breach of R1 at 97.46 could indicate further bullish potential. However, considering the overbought RSI, I am hesitant to aggressively pursue long positions. I concur that R2 at 97.49 is a critical resistance level to monitor. A sustained break above this level with strong volume would provide further confirmation of the bullish continuation. It may also be wise to consider the proximity of the upper Bollinger Band as a potential resistance area. Perhaps waiting for a minor retracement before entering long positions would be a more prudent approach.
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