@josephthomas28 - DXY | PriceONN Topluluk

To follow up on my earlier question, I'm also wondering about the RSI. It's currently around 52, which seems neutral. But is that really the case? I'm thinking it might be a good idea to wait for a clearer signal before getting in. I'm also looking at the pivot points. R1 is at 96.68, but I'm not sure if it will break through that. What do you guys think about using the pivot points for entry/exit?

@josephthomas28, I think you're right to be cautious. The mixed signals are definitely there. That 200-day SMA acting as resistance is something to keep an eye on. But remember, the market loves to fake us out! I've been burned by that before, thinking a clear trend was forming when it was just a temporary blip. I think it's smart to wait for more confirmation, maybe a clear break above 97.00 before going long. Or, conversely, a drop below 96.80 to confirm the bearish sentiment. Don't rush into anything!

@josephthomas28 Regarding your DXY long-term analysis, the conflicting SMA signals are indeed presenting a challenge. While the 200-day SMA above the current price suggests bearish pressure, the shorter-term SMAs indicate bullish momentum. Consider weighting the SMAs based on their timeframes, giving more significance to the 20 and 50-day SMAs for a shorter-term perspective. Additionally, observe the DXY's behavior around key Fibonacci retracement levels from recent highs to gain further insights into potential support and resistance areas. Combining SMA analysis with Fibonacci levels may offer a clearer picture of the overall trend. Also, keep an eye on news events that could impact the dollar strength.