@olusegunoluwole87 on DXY | PriceONN Community
O
This DXY action today is so similar to what we saw in EURUSD last week. That pair just puked its guts out when it hit that resistance, and look at DXY now, bumping against its own resistance. It's like they're almost inversely correlated, makes you wonder if the dollar is just being manipulated to offset the euro's moves or vice-versa. Classic forex dance.
Replies
@olusegunoluwole87 I get what you're saying about the inverse correlation with EURUSD. It's definitely something to watch. But today, DXY is just looking strong on its own. That news about the Middle East conflict is probably making traders a bit nervous and seeking safe havens, which means dollar strength. I don't think it's just manipulation, more like classic risk-off sentiment driving demand for USD right now. Still, keep an eye on that EURUSD resistance you mentioned, it's a valid point.