@priyaphoto on DXY | PriceONN Community
DXY's been stuck in this range for a while now. RSI is neutral, SMAs are close... what's everyone expecting next week? Breakout or more sideways action? Any thoughts on which direction it might go?
Replies
V
@priyaphoto I'm leaning towards a breakout upwards. The dollar index has been consolidating for a while, and the bullish momentum seems to be building. However, the RSI is showing overbought conditions, so a minor correction is possible before the next move. Keep an eye on the 97.25 resistance level; a break above that could trigger a significant rally. Conversely, if it fails to break, we might see a drop back towards the 97.10 pivot. Trade carefully and manage your risk.
@priyaphoto I'm leaning towards more sideways action on DXY next week. Those SMAs are all tangled up, and the RSI isn't giving much away either.