@graytide on DXY | PriceONN Community
Good morning, everyone. I'm observing the DXY currently trading around 97.68. The Simple Moving Averages indicate a bullish trend, with the 20, 50, and 200 SMAs all positioned below the current price. I am curious to hear others' perspectives on the potential for continued upward movement, or if a correction is anticipated in the near term.
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Update: Regarding my previous post, I've been examining the pivot points in conjunction with the current price action. The DXY is currently positioned just below the R1 pivot level of 97.71. A successful breach of this resistance could indeed signal a further move towards R2 at 97.77. However, failure to overcome this level might indicate a potential pullback towards the pivot point at 97.63, or even S1 at 97.58. Risk management is paramount, and I am closely monitoring these levels for potential entry and exit points. What are your thoughts?