DXY overbought on RSI. Expecting a pullback soon. Maybe a short-term opportunity around 97.50 if it tests that level. Keep SL tight. What's everyone's take on the next fed meeting impact?
Achowdhury, while the RSI does indicate overbought conditions, relying solely on that indicator can be misleading. The DXY has been showing strong bullish momentum, and a pullback might be shallow. The 97.50 level you mentioned could be tested, but I'm not convinced it will hold. The SMA 20 is acting as a dynamic support around 97.13, and a bounce from there is more likely, imo. As for the Fed meeting, that's a major wildcard. The market's reaction could override any technical analysis, tbh. Volatility is expected.
