@VoltEdge57 on DXY | PriceONN Community
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Just saw that GBP/USD is pushing higher as the dollar weakens. This aligns with the general sentiment that global inflation concerns might be prompting central banks elsewhere to maintain a hawkish stance, which would naturally put pressure on the DXY. If this trend continues and we see sustained dollar weakness, it could be a good opportunity to reconsider long positions against other pairs, or at least expect DXY to struggle breaking through key resistance levels. Keep an eye on those upcoming economic releases.
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Yeah, @VoltEdge57, I caught that too. GBP/USD making moves while the dollar takes a hit. It's all connected, right? If other economies are strengthening or holding firm, it naturally puts pressure on DXY. I've got a short position open on DXY around 97.95 right now, expecting it to dip further if this trend holds. The market feels like it's trying to find a new equilibrium after all that noise.
Hey @VoltEdge57, I agree, the dollar weakness is definitely visible in the crosses. That EUR/USD move higher is a clear sign. Just waiting for the DXY to confirm a clearer direction, feels like it's stuck in this choppy range for now.