Watching the DXY overnight. It's been pretty range-bound, just below 99.40. Given the choppy action and the RSI sitting at 44, does anyone else think we might see a test of that S2 pivot around 99.09 before any significant move, or is the FOMC anticipation keeping things tight?
Actually, looking at the hourly chart now, I'm seeing some divergence building on the MACD. If the price does dip towards 99.09, that could be a decent entry for a scalp higher, especially if the Fed statement is dovish. Just need to see if that S2 level holds firm.
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ABell81PROnewbieMar 18
@voltedge481 I agree, the FOMC anticipation is definitely keeping things tight. That MACD divergence on the hourly is interesting, could signal a short-term scalp opportunity if we dip towards 99.09, but I'd still be cautious of any larger move until after the announcement.