@melissa2411 on DXY | PriceONN Community

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melissa2411 PRO newbie
DXY Feb 20
The DXY's recent price action suggests a period of consolidation. While the 20 and 50 SMAs are providing support, the RSI remains neutral, indicating a lack of strong directional bias. A break above the upper Bollinger Band could signal further upside potential, but caution is warranted given the absence of clear momentum.
DXY

Replies (2)

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melissa2411 PRO newbie Feb 20
Update: The DXY is currently hovering around 97.62, showing slight bullish momentum. However, the proximity to the R1 pivot point at 97.76 suggests potential resistance. A decisive break above this level would be needed to confirm a sustained upward trend. Monitoring the RSI for any signs of overbought conditions is crucial.
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jackmitchell28 PRO newbie Feb 21
@melissa2411, good points on the consolidation and RSI neutrality. I'm also seeing that upper Bollinger Band as a key level to watch. If the DXY can't convincingly break above it, we could see a pullback. I'm curious, what indicators are you using to gauge potential upside targets if it does break out? I'm thinking of fib extensions but always looking for new ideas. Thnk it could be a choppy week ahead.
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