@IceStorm69 on DXY | PriceONN Community
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Anyone else watching the 50-day SMA on the DXY? It's right around 97.47, and the price action seems to be respecting it. I'm curious if we'll see a bounce or a break through next week. What are your thoughts on how this level plays out?
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Update: I'm leaning towards a short-term bullish outlook if the DXY can hold above that 97.40 level. Need to see some confirmation first, though.
Hey @IceStorm69, interesting point about the 50-day SMA! 🤔 I've been tracking that as well. The way it's been interacting with the price action definitely suggests it's a key level. I'm leaning towards a potential bounce, especially if we see some positive economic data early next week. However, a decisive break below could trigger a sharp sell-off, targeting that 97.20 level. I'll be watching the RSI closely for confirmation. A move above 50 on the RSI after a bounce would solidify the bullish scenario, imo. Otherwise, shorting below 97.40 might be the play. What are your thoughts on volume?