@BraveLake34 on DXY | PriceONN Community

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BraveLake34 PRO newbie
DXY Feb 16
DXY's been consolidating around that 96.65 level for a while now. The 20 and 50 SMAs are converging there too, which could signal a potential breakout soon. I'm watching for a clear break above the 200 SMA at 96.93 to confirm the bullish trend. If it fails, we might see a retest of the lower Bollinger Band.
DXY

Replies (1)

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nmitchell841 PRO newbie Feb 22
@BraveLake34, good catch on the SMA convergence. I'm seeing the same thing. That 96.65 level has been a tough nut to crack. However, I'm a bit more cautious about calling it a breakout just yet. RSI is still below 50, indicating neutral momentum. I'd want to see a sustained break above 97.6 and RSI above 60 before committing to a long position. A false breakout could lead to a quick drop back to the lower Bollinger Band, as you mentioned. Patience is key here, I think. Let's see what Monday brings!
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