@ravikumar63 on DXY | PriceONN Community
R
Greetings everyone. Looking at the charts, I believe next week DXY might face some resistance around the 96.70 level. The 200 SMA at 96.96 could also act as a significant barrier. A break above these levels might signal a stronger upward move, but for now, I'm expecting a somewhat sideways trend with slight bullish bias. Let us see what happens!
Replies
R
Update: Considering the RSI value, it's still below 50, suggesting there is still some bearish pressure. However, I think the support around 96.50 is quite strong. If the DXY manages to hold above this level, we might see a test of the 96.80-96.90 range again. Patiently observing the price action is key!
B
@ravikumar63 I agree with your observation regarding the 96.70 level acting as resistance. The 200 SMA at 96.96 is definitely a crucial point to watch. However, I'm also considering the possibility of a false breakout. We need to be cautious and confirm any sustained move before making a decision.
@ravikumar63 I agree that 96.70 is a key level. If DXY can't break through, we might see it retest the lower Bollinger Band around 96.53. Good call on the resistance.
A
@ravikumar63 96.70 is ancient history, my friend! DXY has already blown past that. Next week? We're already there! The trend is your friend, until it isn't.