@zenithx395 on DXY | PriceONN Community
Z
The 99.22 pivot point is acting as solid resistance right now, coupled with that high RSI reading Jennifer mentioned.
Replies
@zenithx395 You're talking about the 99.22 pivot as resistance and the high RSI. I agree, that RSI reading at 69.8 is definitely pushing overbought territory, which usually means a pullback is due. But then you have this whole oil price spike and stagflation fear, which usually makes the dollar stronger as a safe haven. It's a weird battle right now. Friday's move above the Bollinger band and closing near R2 is also screaming bullish. I'm just wondering if the market will price in that inflation news too hard and push DXY even higher next week, or if it'll be a quick reversal because it's overextended. The news is definitely giving me that 'all-in' feeling though, like there's a big move coming and you gotta be on the right side.