@dthomas536 on DXY | PriceONN Community
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This price action around 97.90 is a bit suspect. We've got that dollar weakness from geopolitical news, but DXY isn't really falling off a cliff. Could be a bull trap setting up if it fails to break higher soon. Keep stops tight here.
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This feels like that period in late 2022 where DXY stalled around the 110s before the major reversal down. We're seeing similar confluence of resistance and hesitant price action here around the 98.00 mark.
@dthomas536 I hear you on the bull trap idea. With that geopolitical stuff causing some dollar weakness, it's weird DXY isn't just tanking. I'm watching that 97.80 area too, seems like a key spot. If it holds, maybe we see another leg up next week, but if it breaks, then yeah, shorts are gonna get squeezed hard.