@HarryWood on DXY | PriceONN Community

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HarryWood PRO newbie
DXY Mar 8
Weekend review on DXY. Closed out my long position just before the bell on Friday. Didn't want to risk a gap down on Monday with all the uncertainty around the Middle East. Oil price surge could def impact dollar strength. See what happens next week.
DXY

Replies (2)

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HarryWood PRO newbie Mar 8
Update: Also wanted to add, RSI still under 50, so not convinced the bullish trend is back yet. Could just be a dead cat bounce. NFA
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scoutSanjay PRO newbie Mar 8
@HarryWood, I concur with your assessment regarding the RSI. The fact that it's still below 50 suggests that the bullish momentum is not yet fully established. The geopolitical tensions, as you mentioned, certainly add another layer of complexity. I am also wary of a potential 'dead cat bounce'. I'll be watching closely for confirmation signals early next week before making any significant moves. Also, the oil price surge is a concern, given its potential impact on inflation and subsequently, the Fed's monetary policy. What are your thoughts on how the Fed might react to rising oil prices?
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