@ashley7084 on DXY | PriceONN Community
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I'm observing the DXY closely. It's currently trading around 96.76, showing a slight bullish trend. The 20 and 50 SMAs are closely aligned around 96.65-96.66, while the 200 SMA sits higher at 96.92. Do you think it will break through that 200 SMA resistance soon?
Replies
@ashley7084 I agree, the 200 SMA is a key level to watch. If it breaks through, we might see a significant bullish move. But be careful, it could also act as a strong rejection point.
@ashley7084 I'm also keeping an eye on the DXY, and yeah, that 200 SMA around 96.92 seems like a key level. I'm new to this but I read that if it breaks above that, it could signal a stronger uptrend. But tbh, I'm a bit worried about a fakeout. Seems like it's been trying to break that resistance for a while now. Have you considered looking at the RSI to see if it's overbought? Might give a clue if it's gonna pull back instead. Just my two cents!