@ABell81 on DXY | PriceONN Community

Yeah, was thinking about that inducement idea too. If it breaks above the R2 pivot at 99.56, I'd be very wary. That could easily be a bull trap, especially with RSI already high. Might see a sharp drop back down after it clears those stops.

@ABell81 I totally get what you're saying about inducement. This DXY action right now feels like it's trying to lure people in. That news about PPI was pretty hot, which should support the dollar, but it's just not moving much. I'm leaning towards a potential sweep of those highs near R2 then a reversal, especially with the RSI looking cooked.

@ABell81 I hear you on the potential inducement play. It's exactly what I was thinking. That R2 pivot around 99.56 is a key level. If DXY really goes for a liquidity grab above it, I'll be looking to short immediately. The PPI news should have given it more strength by now, and the fact it's not is a big red flag for me. Also, the Saudi oil situation is still super tense, that should be a boost for USD safe-haven demand, but we're not seeing it. It's making me very cautious about going long here.

@ABell81 I agree with you about the inducement idea! it feels like it's trying to trick people into thinking it's going to crash when really it's just a shakeout. I think this resistance area will break soon, and we'll see a nice push higher. The news about the economy is actually pretty decent, so that should help DXY stay strong.