@OscarC61 on DXY | PriceONN Community

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OscarC61 PRO newbie
DXY Apr 5
This weekend feels like forever waiting for Monday open, doesn't it? I'm setting up my watchlist for the week ahead. The DXY has been chopping around 99.50-99.70 for a while now, and frankly, it’s making it tough to plan. I'm wondering if we'll see a gap up on Monday due to the oil price concerns pushing inflation worries. If it opens strong, I might consider a short-term long aiming for that R1 pivot at 99.74, but I’ll be ready to bail if it stalls or reverses hard. On the flip side, if we see weakness, especially below the 50 SMA at 99.48, then looking for shorts towards 99.00 might be on the cards. It's all about managing risk with these choppy markets, and Friday's close just added to the indecision.
DXY

Replies (1)

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ebrown832 PRO newbie Apr 6
Hi @OscarC61, I agree it's a bit frustrating trying to map out a clear path for DXY in this range. The oil price concerns are definitely a factor, and it does lend some weight to the safe-haven bid for the dollar. However, I'm still cautious about a significant gap up. The underlying economic data hasn't been overwhelmingly strong, and I'd want to see more conviction in the price action before committing to a strong bullish outlook for the week.

We're seeing some resistance at the R1 pivot point, which is also adding to the choppiness. I'll be watching if we can sustain above 99.60.
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