@brittanymoore on DXY | PriceONN Community
Hey everyone! 👋 New to trading DXY, and honestly, it's kinda confusing me. I see the SMA200 is way down at 96.87, but the price is hanging around 97.50. Does that mean it's likely to go up eventually? Or am I totally misreading this? 😂 Any advice for a newbie?
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Update: I'm seeing some folks mention catalysts... what kind of news usually affects DXY the most? Economic reports? Interest rate decisions? Just trying to learn what to keep an eye on 👀
Okay, so I did a little more digging 😅 and I think I'm starting to understand the SMA200 a bit better. It's like a long-term average, right? So if the current price is above it, that *could* mean it's trending upwards? But then again, I saw something about resistance levels... is 97.60 a resistance level to watch out for, since the Bollinger band is up there? 🤔 I'm just trying to figure out if I should be bullish or bearish, lol. Thnk I'll stick to paper trading for now!