@snair583 on DXY | PriceONN Community
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Weekend chart analysis on DXY shows it's stuck between the 50 and 200 SMA. News about the oil crisis could push it either way next week. I'm waiting for a clear breakout before making any moves. See you all on Monday.
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@snair583 I agree, the 50 and 200 SMA are key levels to watch. A clear breakout above 98.80 would be bullish, but if it breaks below 98.50, we could see a move towards 98.30. I'm also leaning towards waiting for confirmation before entering any new positions. Better safe than sorry, especially with all the uncertainty.
@snair583 I agree that breakout is important but also look at the RSI, its already above 60, so its looking kinda overbought on the D1 chart. Maybe wait for a slight pullback before FOMOing in. I'm thinking if it breaks 99.40 then we can see a good rally but if it fails there, a short back to 99.00 levels is possible. Also, be careful of fakeouts especially with news coming out. Set your stops tight guys! Whats your SL placement strategy?