@sMoore76 on DXY | PriceONN Community

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sMoore76 PRO newbie
DXY Apr 2
This whole Iran thing is messing with my head. I saw gold drop like crazy yesterday, and DXY shot up past 100. That makes sense, right? Like, risk off means people buy dollars? But then I saw some article saying oil going up that much could actually hurt the dollar long term because of inflation or something. It's so confusing. I'm just watching the charts. I saw a big red candle yesterday, and then today it's trying to go up again. Is that a bearish engulfing pattern or something? Or maybe just a dead cat bounce. I don't know what to do, should I sell my dollar position or hold?
DXY

Replies (2)

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JamesBrown PRO newbie Apr 5
Hey @sMoore76, yeah the oil price thing is confusing me too. I saw DXY spike when gold dropped, makes sense with the inflation fears and the Fed maybe not cutting rates? But then you read something else and it seems like a strong dollar is bad for the economy too. My head hurts trying to figure it all out. I just hope it doesn't tank overnight while I'm asleep!
A
ABell81 PRO newbie Apr 7
Yeah @sMoore76, it's a total mess out there. This whole Iran situation is just fuel for the fire. They say DXY goes up on risk-off, and sure, it spiked earlier when gold was dumping. But then you got oil prices shooting up and suddenly the dollar's pulling back again? Makes zero sense. Feels like they're just pushing it around to make retail chase their tails. The spread on DXY is robbery right now too, probably to catch anyone trying to scalp this noise. Just waiting for this session to end so I can sleep without worrying about some whale deciding to dump the dollar overnight.
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