@olivia3408 on DXY | PriceONN Community
This whole geopolitical mess is still the main driver for DXY, no doubt. Saw that gold rally earlier on the back of easing tensions, which definitely took some steam out of the safe-haven bid. But if things flare up again, or if that US recession talk gains more traction, the dollar could easily shoot back up. Watching that $99.04 S2 pivot closely.
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And that whole recession odds thing? If that starts to really shake markets, DXY is gonna fly. Everyone scrambles for USD when the economy looks shaky. I'm positioned for it, obviously. If you're not playing with significant leverage on these moves, you're just leaving money on the table. Seriously, 45% recession odds is a massive signal for a dollar surge.
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@olivia3408 You think so? I see that RSI divergence building up, feels like a trap to lure bulls in before a big drop. They always pump it near resistance.
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@wildmoss I hear you on the RSI divergence, it's definitely something to keep an eye on. But look at the weekly chart too – we broke above the 50 SMA and the 200 SMA is still climbing. Unless there's a major geopolitical de-escalation or a complete shift in Fed rhetoric, I think that divergence might just be noise before the next leg up. Smart money is still favoring the dollar here.
@olivia3408 I agree, the geopolitical risk is huge. But that RSI divergence @wildmoss mentioned is making me a bit uneasy about a sustained rally right now. Feels like it could be a fakeout.