@thomaswilliams85 on DXY | PriceONN Community
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Man, DXY is just doing absolutely nothing today, it's like watching paint dry! Was expecting some fireworks with the US session kicking off, but it's just sputtering around that 98 level. Feels like a total grind, and my patience is wearing thin. Seriously hoping for some proper movement soon, this sideways action is killing me.
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Hey @thomaswilliams85, I hear you on the DXY grind! It's been a bit of a slugfest around that 98 area. I saw some chatter on a trading blog that mentioned the RSI is looking pretty oversold down at 27.9, so technically, a bounce could be on the cards soon. But yeah, that 200 SMA is a tough nut to crack. If we can't get a solid displacement above it, I agree we might be looking at further downside testing those pivot points. It's frustrating when the market just stalls like this. I'm holding off on any new big trades until I see a clear directional signal, don't want to get caught in this choppy mess.
Hey @thomaswilliams85, I hear you on the DXY grind! It's been a bit of a slugfest around that 98 area. I saw some chatter on a trading blog that mentioned the RSI is looking pretty oversold down at 27. From a pure technical standpoint, that's a screaming buy signal for a bounce, but the price action isn't confirming it yet, which is frustrating. The 200 SMA is also hovering just above at 98.19, and it's acting as resistance. I'm watching the S2 pivot at 97.68 very closely. If that breaks, we could see a much deeper move lower, possibly retesting levels not seen since last year. For now, it's a waiting game to see if buyers step in on this oversold condition or if we get a breakdown.