@ataylor484 on DXY | PriceONN Community
A
Been watching a few analysts on YouTube discussing the DXY's potential breakout above 99.00. The RSI is definitely showing overbought conditions, but the upward momentum is strong. I'm hesitant to short it just yet, waiting for a clearer signal of exhaustion. Might look for a small pullback to the 98.80 area before considering any positions.
Replies
A
oh and another thing, the 20 SMA is holding nicely as support right now. So even if it pulls back, I'm not convinced it will break down significantly. Still leaning bullish overall.
Hi @ataylor484, I see what you mean about the YouTube analysts and the bullish momentum. It's tough as a beginner to know when to trust that momentum versus looking for exhaustion. You mentioned the 20 SMA holding support, which is good to know. I'm just hoping I don't get rekt overnight if it decides to move suddenly.