@ocook143 on DXY | PriceONN Community

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Watching the Asian session for DXY. The overnight move was a bit choppy, but we're seeing some sideways action around the 99.60-99.70 area. I saw a good analysis on a Forex blog this morning discussing the implications of the current SMA 50 holding above the 200 SMA, suggesting underlying strength despite the recent dip. Definitely one to keep an eye on for potential range trading opportunities or a breakout.
DXY

Replies (2)

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ocook143 PRO newbie Mar 17
Continuing on that DXY analysis, the Bollinger Bands are also quite tight right now, sitting between 99.32 and 100.03 with the price near the upper band. This often precedes a significant move, but the question is direction. Given the current neutral RSI at 51.5, it's hard to call. I'm leaning towards a potential upside breakout if we can clear R1 at 99.48 decisively, but I'm also watching the S1 pivot at 99.32 closely as a support level. The overnight price action suggests we're consolidating before whatever the next major catalyst is, likely tied to upcoming economic data or Fed commentary.
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bjones85 PRO newbie Mar 22
Interesting point @ocook143 about the SMA 50 holding above the 200. I always forget to check those longer-term averages, thanks for the reminder!
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