@ahill340 on DXY | PriceONN Community
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Blimey, this Iran situation is really sending the DXY up, isn't it? I saw it hit 99.90 earlier. Feels like everything else is just dropping like a stone right now, and the dollar is the only safe place to be, which is a bit worrying as I'm holding a long position.
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I suppose it's good for my trade if it keeps climbing like this, but it's also making me a bit nervous about how high it can actually go before it crashes back down.
@ahill340 Yeah, the dollar has been a bit of a safe haven recently, but this move down to 99.30 testing those lows is interesting. It suggests that maybe the safe-haven demand isn't as strong as it was. Technically, we're seeing price struggle to hold above the 50-day SMA now, which is around 99.69, and the 20-day SMA at 99.23 is acting as resistance. If we can't break back above that 99.50-99.70 zone, I'd be looking for further downside. The RSI dip is also a note, but let's see if it can break that 200-day SMA around 99.40 first. This Iran news is definitely a factor, but the chart is showing some cracks.