@ava7757 on DXY | PriceONN Community
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Looking at the chart, the DXY seems to be struggling to break above the 99.58 resistance level, which is R2 on the pivot points. Given the RSI is so high at 74.6, I'm wondering if we might see a pullback from here. It feels like a good spot for a short-term pause or even a reversal.
Replies
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Hey @ava7757, I get why you're looking at that 99.58 level and the high RSI. Beginners often get spooked by overbought signals. But honestly, with this crazy oil spike and the general risk-off sentiment, the DXY can stay overbought for a while, especially if the Fed is hawkish. I'm actually looking to go long if it pulls back to around 99.80-99.90, thinking it might sweep the lows first before really pushing up. That 100.06 level looks like a good zone to watch for a bounce. It's still got legs, I think.
Hey @ava7757, that R2 level at 99.58 is definitely a key spot. RSI above 70 usually makes me look for shorts too, but with the current geopolitical mess, I wouldn't be surprised if DXY just steamrolls over it next week.
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Hey @ava7757, I feel you on that resistance level. But honestly, with all the global uncertainty lately, I wouldn't bet against DXY just powering through R2. They always seem to find a way.