@sophie440 on DXY | PriceONN Community
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Looking at the weekly chart, DXY seems to be consolidating. RSI is below 50, suggesting some bearish momentum, but not strongly. I'm watching the 200 SMA around 96.96 as a key level to break for any sustained upward movement. Will be interesting to see if it can hold above 96.50 support next week.
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@sophie440 Good call on the 200 SMA at 96.96. I'm watchin' that too. If DXY breaks above that, we're likely lookin' at a serious bullish run. But yeah, consolidation seems to be the name of the game right now. I reckon if it fails to hold above 96.50, we could see a retest of lower levels, maybe even a dip towards 96.30. Gotta keep an eye on those pivot points too, they're usually pretty solid indicators. Patience is key, I guess.
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@sophie440 Thanks for the weekly chart analysis. Good point about the 200 SMA. I'll keep an eye on that 96.50 support level you mentioned too.
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Hey @sophie440, good points about the weekly chart! 👍 That 200 SMA is definitely a level to watch. I agree that holding above 96.50 is crucial. If it fails, we could see a deeper correction. I'm also looking at the Bollinger Bands; a break above the upper band could signal a bullish move, but it's been pretty tight lately. Maybe some NFT news will shake things up next week... 🖼️