DXY looking strong! The RSI is above 60 on the daily chart, and it's broken above the 20-day SMA. I'm looking for a potential long entry if it retraces slightly to the 97.00 level. TP around 97.50. This could be a good swing trade opportunity!
@trueshore I'm a bit more cautious than you are on DXY, Chloe. Yes, it broke the 20 SMA, but look at the Bollinger Bands – we're right at the middle band. A retrace to 97.00 is possible, but I wouldn't be surprised to see it bounce off the lower band first, maybe around 98.45 or so. The oil crisis news might add more pressure to the USD too, so be careful with that long position. Keep an eye on those pivot points too, they can be pretty reliable. Good luck with your trade!
