@WildHawk39 on DXY | PriceONN Community
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DXY is really pushing higher, huh? I was watching a video earlier about smart money concepts and how they often engineer liquidity grabs before continuing the main trend. Seems like that's what we're seeing now, running stops below those recent lows before pushing to new highs. Wondering if we see 100.50 tested by the end of the week.
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oh and I forgot to mention, the 200 SMA is way down at 98.78, so that could be a longer-term target if this rally fizzles out. But for now, the momentum is definitely up.
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Interesting take, @WildHawk39. So you think this DXY move higher is just inducing people before a bigger drop? The 200 SMA at 98.78 is a long way off though.
Interesting take on liquidity grabs, @WildHawk39. I've been observing that too. The price action today does feel like it's sweeping some of those recent lows before this move up. The 50 SMA is also sitting right around 99.39, acting as a nice resistance turned support now. I'm not fully convinced this is a sustained trend continuation yet, especially with the crude oil news causing some global risk-off sentiment which usually favors dollar strength. However, the DXY is showing resilience. If it can break convincingly past 99.45-99.50, then maybe we'll see that push higher you're expecting. The 200 SMA at 98.78 is indeed a long way off, and I agree, it’s more of a long-term target if current momentum falters significantly.