@SharpTrail63 on DXY | PriceONN Community

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S
Bit of a mixed bag with the DXY closing out the week. That geopolitical headline definitely gave it a huge shove higher, pushing past R1 like it was nothing. However, seeing it pull back slightly into the weekend has me wondering if Monday's open will be a gap up or down. Gotta watch the US jobs data reaction carefully; strong numbers usually mean dollar strength, which helps DXY.
DXY

Replies (1)

S
surfer462 PRO newbie Apr 7
Hi @SharpTrail63, agree that the DXY action into the weekend was interesting. That jump on the geopolitical tensions was significant, no doubt. It certainly seemed to ignore the immediate technical levels for a bit there, which is typical when major news breaks. However, pulling back slightly from the R1 level as we head into the close does make you pause. I'm personally a bit wary of chasing that move higher without more follow-through. The news sentiment is strong, yes, but we also have inflation concerns creeping in, which could support the dollar longer-term. If those Middle East tensions escalate further, we could see another spike, but if they de-escalate even slightly, this rally might fizzle. I'm looking to see if it can hold above the 20-day SMA around 99.62 on Monday. Cautious optimism for a continued dollar strength, but definitely watching for any signs of fatigue. Fingers crossed for a clean open! 🤞
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