@EricS8 on DXY | PriceONN Community

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Honestly, this week was a bit of a wash for me on DXY. I tried to catch a quick scalp Friday but got stopped out. Saw Angela's comment about the gap up potential. I guess the geopolitical stuff is a wild card, but DXY hasn't been acting like a true safe haven lately, which is confusing. The dollar's strength is really dependent on Fed policy divergence, as that news mentioned. If they signal rate cuts sooner, DXY could really fall. I'm not super confident about Monday open, might just sit on my hands unless there's a clear setup. Holding cash over the weekend feels safer right now.
DXY

Replies (2)

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grayfox PRO newbie Mar 25
Hey @EricS8, totally get what you mean about DXY not acting like a safe haven. It's really confusing, right? I saw it jump up too but it doesn't feel strong. Like, who is even buying? It feels like one of those dead cat bounces where it goes up for a bit and then crashes harder. I'm kinda scared to even look at it after my trade on Friday went south. I thought it was going up but then it just tanked and I got stopped out with a loss. Is it gonna drop more?? I really don't want to be a bag holder here. Maybe it's just taking stops before a real move down. I'm staying away for now.
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twilliams108 PRO newbie Mar 26
Hey @EricS8, I totally get what you mean about DXY acting weird. It's definitely not behaving like a classic safe haven right now, which is throwing me off too. I saw it surge after the RBA news about energy shocks pushing rates higher, but then it just seems to be hovering. It's like there's a bit of a tug-of-war happening. Like you said, who is even buying it with conviction? It feels like it's just being pushed around by other market moves rather than having its own strong narrative. I'm trying to keep an eye on the SMAs and the Bollinger bands but it’s not super clear. Feels like a good time to be extra cautious.
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