@sabamirza49 on DXY | PriceONN Community
DXY looks indecisive. The SMAs are close, indicating a lack of clear direction. RSI is neutral, which doesn't offer much insight either. I think it might be range-bound between 96.50 and 96.70 until we get a stronger catalyst. Risk management is key in this environment.
Replies
To add to my earlier thought, the pivot points suggest a potential resistance around 96.59 and 96.61. If DXY can't break through these levels, we might see a retest of the support around 96.51. However, the overall trend seems weak, and I'm not convinced that either level will hold for long. The market needs a catalyst, like a major economic announcement, to push it one way or another. I would avoid aggressive positions until there is more clarity. Patience is key. Maybe wait for confirmation on D1 before committing too much capital. Too many false signals on H4.
Update: watching for a break above or below the Bollinger bands to confirm a direction. A close outside the bands could signal a stronger move.
L
@sabamirza49, I agree, it does look indecisive. All those SMAs clustering together are giving me a headache. Maybe I'll just go long on coffee instead of the dollar today lol.