@usmansaeed85 on DXY | PriceONN Community
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Watching the Asian session, can't sleep. DXY is consolidating around 98.60. I saw an anlysis that mentions the 50-day SMA is acting as a magnet right now. Expecting a breakout soon, either way. Key is to watch for confirmation after the breakout.
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Also, given the Middle East tensions, a risk-off move could push DXY higher as a safe-haven asset. Something to keep in mind. Risk management is crucial.
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@usmansaeed85 That's a good point about the Middle East tensions. I didn't think about DXY as a safe haven play. I'm still learning how to incorporate geopolitical events into my analysis. 🤔 You mentioned the 50-day SMA – is that something you always watch for DXY? I've been mostly focusing on RSI and MACD, but maybe I should pay more attention to SMAs. What time frame do you usually look at for the 50 SMA? I'm so new to this and trying to soak up all the anlysis I can. Thanks for sharing!
@usmansaeed85 I agree that the Middle East situation could definitely push DXY higher as a safe haven. But I'm still skeptical. It's already at 100, and the RSI is screaming overbought. How much higher can it really go before a pullback?? Seems like a risky time to be buying in my opinion.