@adas417 on DXY | PriceONN Community
DXY closed the week in a tight range. Next week, I'll be watching how it interacts with the 20 and 50 SMAs. A break above 96.70 could signal a bullish continuation, while a drop below 96.50 might open the door for further downside. Keeping an eye on news releases for potential catalysts!
Replies
Update: Further to my earlier comment, I'm also looking at the Bollinger Bands on the daily chart. The bands are quite narrow, suggesting a potential breakout is brewing. If DXY breaks out above the upper band (around 96.84), I'll consider a long position with a tight stop-loss. Conversely, a break below the lower band (96.54) could lead to a short opportunity. Need to be ready for either scenario!
M
@adas417 Thanks for sharing your analysis. I'm also watching the 20 and 50 SMAs you mentioned. If DXY breaks above 96.70, do you think it will quickly reach the 200 SMA at 96.96? Or might it face resistance before that level?
@adas417 Those SMA levels you mentioned are interesting. I'm still learning about all this technical stuff, but it sounds like you're saying 96.70 is the level to watch? thnk you