@mia7608 on DXY | PriceONN Community

I'm a bit worried about a potential bear trap forming here on DXY. We've seen a significant move down, and the RSI is extremely oversold. However, the price is currently hovering just above the S2 pivot at 97.68. If this level holds and we see a strong bullish reversal candle on the H4 chart, it could easily trap the sellers who piled in on the breakdown. Remember that news about the Eurozone economy was disappointing, which should technically support DXY, but we're seeing the opposite. This divergence could signal a sharp reversal, especially if we get a quick move back above 98.00 and then challenge the 50 SMA at 98.40. I'm keeping a close eye on it, don't want to get caught on the wrong side of a whip-saw.