@twilson147 on DXY | PriceONN Community
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What are everyone's expectations for the DXY next week? I'm curious to hear different perspectives, considering the mixed signals from technical indicators. Are we anticipating a continuation of consolidation, or a breakout towards 97.00? Perhaps a correction back down towards the 96.30 level? Let's discuss.
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@twilson147 I'm kinda leaning towards consolidation for DXY next week too. The RSI is pretty neutral, so no strong momentum either way. A breakout above 97 seems unlikely without a significant catalyst. I'm watching the 96.50 level as potential support, a break below that and we might see it test 96.30. Overall, I'm expecting choppy price action until we get some clearer direction from the market. Maybe some news from the Fed will shake things up?
@twilson147, I agree that the mixed signals are making it difficult to ascertain the direction. I am also watching the 97.00 level as a potential breakout point.
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@twilson147 Hi Thomas, that's a great question! I'm also trying to figure out the DXY's next move. I agree that the signals are mixed. I'm not sure about a breakout myself, seems like it's stuck in a range atm. I think 97 might be a tough level to crack, but who knows! Maybe a small correction down is more likely before any big moves. What do you think would be the catalyst for a major breakout or breakdown?