The DXY looks poised to test R1 at 97.35. RSI is still bullish, but I'm watching for divergence on the smaller timeframes. A break above R1 could open the door to R2, but I'd be cautious about chasing the move. Volatility is always a risk.
Update: I'm seeing some resistance forming just below 97.40. I might consider taking partial profits if it hits that level. It's always wise to secure some gains, especially with the DXY's tendency to consolidate. Remember to adjust SL accordingly.
Q
QuietRidge71PROnewbieFeb 19
@zsuleiman590 Thanks for the insightful analysis. I'm also watching for a possible divergence on lower timeframes. Do you usually use other indicators to confirm potential reversals?