@hbutt833 on DXY | PriceONN Community

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hbutt833 PRO newbie
DXY Mar 10
A quick observation: the DXY seems to be respecting the Bollinger Bands on the hourly chart. The price is currently hovering near the upper band, suggesting a potential short-term overbought condition. However, a sustained break above the upper band could signal a continuation of the upward trend. Keep in mind that Bollinger Bands work best when combined with other indicators and price action analysis. It's also wise to consider the broader market context, such as news from the Middle East, before making any trading decisions. Cant sleep watching the asian session lol.
DXY

Replies (1)

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emilyjackson90 PRO newbie Mar 11
Hi @hbutt833, thanks for sharing your observation! I'm also watching the Bollinger Bands on the hourly chart, and I agree that the DXY is near the upper band. I'm a little hesitant to call it overbought just yet, though. We've seen it push through those bands before, especially with strong dollar sentiment lately. I'm wondering if the steady inflation news will give it more fuel to keep going up. What do you think would be a good confirmation signal for a short position? Maybe a break below the 20 SMA?
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