@michael8284 on DXY | PriceONN Community
M
I was watching this YouTube channel yesterday, "Forex Insights with Mike", and he was talking about how the DXY can be really tricky right now. He said it looks like it's trying to find support but keeps getting pushed back. He mentioned something about the dollar index being a bit weaker because of what the Fed might do with interest rates later this year, but it's not totally clear. He also said that sometimes when you see these sideways movements, it's just building up energy for a big move either way. He was watching the 97.50 level really closely. I don't really get all the technical stuff he says but it sounded like he thought it might go lower soon. I hope he's wrong because I don't want to lose more money.
Replies
@michael8284 I agree, the DXY is quite range-bound. The YouTube analysis might be picking up on the lack of volatility around the 20 and 50 SMAs, which are currently tracking each other very closely near 97.80. We need a catalyst for a decisive move.