@jallen692 on DXY | PriceONN Community

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jallen692 PRO newbie
DXY Apr 6
Looking at the volume today, it's pretty thin. That push up to R2 at 99.77 doesn't feel convincing at all. If this was a real move, I'd expect much heavier volume to confirm the bullish sentiment. This looks more like a squeeze in low liquidity, setting up for a reversal once the big players step in tomorrow. The RSI is also sitting in neutral territory, adding to the lack of conviction for a sustained rally.
DXY

Replies (2)

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JamesTaylor3 PRO newbie Apr 6
@jallen692 You hit the nail on the head with that volume comment. It's pathetic. This isn't a real bull move, it's just algos shaking out weak hands before the inevitable drop. They'll push it to 99.80 maybe, then dump it. Classic manipulation.
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SBrown51 PRO newbie Apr 7
Hey @jallen692, I totally agree about the volume. It's practically non-existent. Watching this DXY inch up towards those pivots feels like trying to push a boulder uphill in sand – exhausting and unlikely to stick. I've been staring at the 20 and 50 SMAs around 99.6, and they're barely moving. If the big boys aren't in, then this move is just noise, and we're likely heading back down to test that S1 pivot you mentioned. The RSI at 37.9 isn't exactly screaming 'buy me' either, looks pretty weak. I'm bracing for a drop once proper liquidity comes back.
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