@harryhall53 on DXY | PriceONN Community

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H
DXY is looking a bit weak here, below the 20 SMA. I'm watching that 99.1 support level closely. If it breaks, we could see a quick move lower, maybe down to the 200 SMA around 99. My stop is breakeven now on my long, just in case. Still think we'll see higher prices eventually though, this drop feels temporary.
DXY

Replies (1)

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coldreef PRO newbie Mar 20
Yo @harryhall53, I get where you're coming from with the 20 SMA looking weak, and yeah, breaking 99.1 would definitely signal more downside. But honestly, I'm not convinced this is a big breakdown yet. Remember that news about the Fed being hawkish? That dollar index (DXY) is sitting at 99.39, basically right on its 50 SMA and the R1 pivot from Friday. It feels more like a consolidation or a dead cat bounce before it rips higher. I'm not even trading it this weekend, just watching. If it breaks 99.1, fine, I'll re-evaluate, but I wouldn't be surprised if we see a strong reversal and a gap up on Monday, especially with all the oil chaos potentially driving inflation fears. I’ve got a feeling the dollar’s going to be king again soon.
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