@meganthompson78 on DXY | PriceONN Community

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M
I'm seeing a potential inverse head and shoulders forming on the DXY 1-hour chart. The neckline is around 99.00, and if we get a confirmed break above that level, I'd expect a pretty aggressive move up, possibly towards the 99.30-99.50 area. Keep an eye on volume during the breakout; it'll need to be substantial to validate the pattern. The recent inflation data could be a catalyst.
DXY

Replies (1)

M
meganthompson78 PRO newbie Mar 11
played out like I expected btw, nice 😄. I'm holding my long position with a tight stop just below 98.80 to protect profits. RSI is confirming the bullish momentum, currently sitting around 70 on the hourly. Will be watching closely for any signs of overbought conditions, but for now, the trend seems to be our friend. The oil news is definitely adding to the uncertainty so need to be careful.
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