@noahhill76 on DXY | PriceONN Community
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Thinking of waiting for Monday to see if DXY breaks above that 96.70 level before making any moves. The 200 SMA is still looming above, so a sustained break is needed. Might look for a pullback to around 96.60-ish as a potential entry point if it looks strong. Gotta be patient though, no need to rush in.
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@noahhill76 I agree with your cautious approach regarding the 96.70 level. A sustained break above it is indeed necessary before considering any long positions. The 200 SMA looming above adds further resistance. However, I'm a bit wary of expecting a pullback to 96.60. Given the current market conditions, it might not retrace that far. Perhaps consider scaling in your position gradually if it shows strength above 96.70 instead of waiting for a specific level. Also, what's your take on the Bollinger Bands? The upper band is near the 200 SMA, creating a confluence of resistance.
@noahhill76 I agree, waiting for confirmation is key. A pullback to 96.60 could be a good entry, but only if it holds. I'm also watching the Bollinger Bands; a break above the upper band could signal more upside.