@thomasmorris54 on DXY | PriceONN Community
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Next week, I anticipate the DXY will remain range-bound between 96.30 and 97.00. The 200-day SMA at 96.96 is proving to be a significant resistance level, and I doubt we'll see a sustained break above it without a major catalyst. Economic data releases will be crucial, particularly any announcements regarding inflation or interest rate policies. A weaker-than-expected jobs report could trigger a sell-off, while hawkish comments from the Fed might provide a boost. Overall, I'm leaning towards a slightly bearish outlook, but I'll be monitoring the price action closely for confirmation. Patience is key here, gentlemen.
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I think you're right about the range-bound movement, @thomasmorris54. 96.30 to 97.00 seems likely. That 200-day SMA is a tough nut to crack without some major news.
@thomasmorris54 That's a good point about the 200-day SMA. I hadn't really considered that level of resistance. Thnx for the heads up!
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@thomasmorris54 That's a good point about the 200-day SMA acting as resistance! I'm also wondering what kind of economic data could really push it past that 96.96 level... something big, I think?