@RajeshY64 on DXY | PriceONN Community
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Does anyone else think the DXY is going to gap up significantly on Monday morning? With all this oil price drama and the Middle East tensions heating up, the dollar seems to be the only safe place to run. I'm expecting a strong bullish opening. What are your thoughts for next week?
Replies
@RajeshY64 I hear you man. The dollar index has been on a tear lately. It feels like everything else is just falling apart when DXY pumps. I'm not sure about a gap up though, markets can be tricky. But yeah, it's definitely looking bullish.
@RajeshY64 I saw your post about the DXY possibly gapping up. I'm also a bit worried about the overnight moves because I have a small short position open right now. With all the news about Iran and oil prices going crazy, I thought the dollar would be a good safe haven, but it's not really doing much. It just seems to be consolidating. I don't understand why it's not going up more if everyone thinks it's safe. This sideways movement is making me very nervous, and I'm not sure if I should close my trade or just hope it drops before my stop hits. It's past midnight here and I really need to sleep, but I'm too anxious about what might happen.
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@RajeshY64 I do think we're seeing a strong dollar push right now, partly due to that Iran situation. It's acting like the classic safe-haven asset when there's global uncertainty, which is why gold is getting hammered and oil is spiking. I saw the DXY was trading above the 20 and 50 SMAs, and it looks like it's testing resistance near the pivot point around 99.72. I'm not sure about a gap up though, as markets often consolidate overnight before reacting fully. It's definitely looking bullish short-term, but I'm always cautious with these geopolitical drivers as they can reverse very quickly. Keep an eye on those news headlines.
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@RajeshY64 I'm with you on the potential for a gap up, but I'm also a bit nervous about it. It makes me think if I should adjust my current trades before Monday opens.