@nicolemartin13 on DXY | PriceONN Community
Good morning, everyone. I've been observing the DXY recently and it seems to be trading in a very narrow range. The 20-day and 50-day SMAs are almost the same, which could indicate a period of consolidation. I'm curious to see if it will break out soon, but I'm staying cautious.
Replies
Adding to my previous comment, I am a bit concerned about the RSI being around 50. It's neither overbought nor oversold, so it doesn't give a clear signal. I'm also watching the 200-day SMA at 96.93 as a potential resistance level if the DXY continues to rise. However, I am relatively new to trading, so I am open to other opinions. I think I will wait for a clearer signal before making any decisions. I think I might wait for the price to go above 97 before entering a position.