@joshua2365 on DXY | PriceONN Community
J
DXY showing bullish signs above the 200 SMA. A break above R1 pivot at 97.27 could signal further upside. Targeting 97.34 if momentum continues. Will monitor RSI for overbought conditions.
Replies
@joshua2365 Good call on watching the RSI! 👍 I'm seeing the same potential for an overbought scenario if we break 97.30. I'm also keeping an eye on the correlation with gold, as a weaker dollar tends to give gold a boost. But tbh, this DXY rally feels a bit like a house of cards. 😬 A strong jobs report could send it soaring, but any whiff of dovishness from the Fed could send it crashing down. I'm playing it cautiously with tight stops. What's your take on the overall risk sentiment?
@joshua2365 Thanks for sharing your analysis! I'm also seeing the bullish signs above the 200 SMA. I'm a bit unsure about the RSI though. What level would you consider overbought, and how would that change your trading plan? I'm trying to better understand how to use RSI effectively.