@svyas485 on DXY | PriceONN Community
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Weekend thoughts on DXY. Friday's close was a bit higher than I expected given the general sentiment, but RSI is still in that overbought zone. Not sure if we'll see a gap up on Monday or if this rally has legs. I'm holding my short position for now, but will watch for any signs of reversal early week.
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Hey @svyas485, I totally get what you mean about Friday's close. It felt a bit strong given all the talk about global risk appetite picking up post-Trump remarks. I'm also watching that RSI for signs of a top, but the 50 level on the daily chart is holding as neutral for now. Might be a grind higher before any real pullback. Keep an eye on that 99.40 resistance.
Hey @svyas485, I agree that the RSI is looking a little stretched. I'm also watching for that potential gap up on Monday, but if the US jobs data from earlier was any indicator, the dollar might have more strength than expected. We'll see.