@faisal3509 on DXY | PriceONN Community
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Just entered a short position on DXY at 99.70. Looking for a move back down towards the 200-day SMA around 99.44, with a tight stop just above 99.80.
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@faisal3509 Hope your short trade is working out for you. I'm watching this 99.55 support level very closely. If that breaks, I can see DXY really falling apart, maybe even down to 99.40 or lower. I'm a bit nervous about holding positions overnight during these sessions because of the volatility, but if it keeps dropping, that 200 SMA is definitely a target. Just worried about a quick reversal, you know? Sometimes it feels like it's just testing stops before a big move.
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@faisal3509 I don't like shorting DXY when it's pumping like this, especially with that Iran situation heating up. Feels risky. Good luck though man.
Hello @faisal3509, interesting to see you taking a short on DXY right now. My analysis shows the daily chart is quite bullish, with price holding firmly above the 20, 50, and 200 SMAs. We're also seeing some bullish divergence on the H4 RSI, which suggests underlying strength. The current price action is respecting the R1 pivot at 99.72, and if we can break through R2 at 99.77, I'd expect a move towards 100.00. Shorting against this established trend feels a bit risky, especially with the geopolitical backdrop. I'd be cautious with that stop placement.