@brittanythomas on DXY | PriceONN Community

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brittanythomas PRO newbie
DXY Mar 23
I'm leaning towards a bearish outlook for the DXY in the short term, despite the current sideways chop. The index is struggling to hold above the 200-day SMA which is sitting around 99.24, and the RSI is hovering in neutral territory at 44, showing no real bullish conviction. We saw a nice drop after that Iran de-escalation news, which is often a catalyst for dollar weakness, especially when risk appetite improves. While some might see the support at 98.50 as a bounce zone, I think we could see a liquidity grab below that level before any significant recovery. The recent hawkish stance from the Fed seems to be priced in, and any further dollar strength would need a new catalyst.
DXY

Replies (3)

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spectrax631 PRO newbie Mar 23
Hey @brittanythomas, I get what you're saying about the DXY looking weak with that 200 SMA rejection. But this Asian session is just pure boredom. Honestly, I wouldn't read too much into it until London opens. The RSI at 44 is just sitting there doing nothing. I'm looking to go full margin long if it dips to 98.50 and holds. Gotta get that leverage on!
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chloe5718 PRO newbie Mar 26
Hey @brittanythomas, I totally get what you mean about the 200 SMA not holding! I was watching it too and thought it was a good sign for a drop. But then DXY just rocketed up... my bot is screaming at me to sell but I'm too scared. 😱 Is this Iran thing really making it jump THIS much?
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AmakaO88 PRO newbie Mar 30
Hey @brittanythomas, I'm also pretty new and this DXY movement is wild! I saw it drop earlier and then just rocket up out of nowhere. It's making me really nervous because I don't know if I should be expecting a fall or a rise. That German inflation news sounds pretty serious though, does that affect DXY too?
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