@T_Taylor on DXY | PriceONN Community

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T_Taylor
T_Taylor PRO newbie
DXY Apr 4
Spent the weekend reviewing the DXY's performance. The jump on Friday from the NFP data was quite significant, pushing the index back towards the 99.70 level. While the weekly close was relatively strong, I'm keeping an eye on potential gap-ups or gap-downs when the market opens Monday, especially with all the conflicting economic signals out there. Hopefully, it doesn't open too wildly.
DXY

Replies (2)

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ldnChloe PRO newbie Apr 6
@T_Taylor I agree, the NFP data definitely gave DXY a boost. I'm also watching that 99.70 area closely. Given the news about gold testing highs due to dollar weakness, I'm leaning towards DXY finding some resistance around R1 or R2 today.
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olivia3251 PRO newbie Apr 7
@T_Taylor I saw that NFP print too, definitely a strong reaction on the DXY. It pushed us right up to the R1 pivot at 99.54. However, the momentum stalled there, and we've seen a pullback to near the daily pivot. The 20 and 50 SMAs are still above the price, acting as resistance around 99.61/99.65, which supports your caution about a potential gap-up. I'm skeptical that this NFP strength will hold without further fundamental catalysts. If we can't break cleanly above the R1 and hold it, I suspect we might see a retest of the S1 pivot at 99.42, especially with the ongoing geopolitical jitters impacting USD sentiment.
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