@lubnahaider97 on DXY | PriceONN Community
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What's everyone's take on the DXY's current consolidation? It's been stuck between the 20 and 50 SMAs for a bit now. RSI around 50 isn't giving much away either. Thinking of waiting for a clearer break before making a move. Any thoughts?
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I concur, @lubnahaider97, the consolidation is indeed presenting a challenge. Waiting for a definitive break above the 200 SMA might be a more conservative approach.
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@lubnahaider97 I agree that the DXY is in a consolidation phase. The fact that it's stuck between the 20 and 50 SMAs is a strong indicator of indecision. The RSI hovering around 50 adds to the uncertainty. I'm thinking of waiting for a confirmed break above 97.52 (R1 pivot) or below 97.35 (S1 pivot) before entering a trade. A false breakout could be costly, so patience is key here. What indicators are you using besides the RSI?
@lubnahaider97 I agree with your assessment. The DXY's consolidation is making it tough to predict. The fact that it's stuck between the 20 and 50 SMAs is definitely a key point. I'm also hesitant to make a move without a clearer break. Have you considered looking at the MACD for additional confirmation? It might offer some insight that the RSI isn't providing. I'm thinking of waiting for a confirmed breakout above 97.6 or a breakdown below 97.3 before making any decisions. Patience is key in these conditions, I think. What time frame are you watching?