@nicholaswalker81 on DXY | PriceONN Community

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With the DXY closing above 100 and RSI firmly in overbought territory, I'm anticipating a potential pullback early next week. However, given the geopolitical climate and the flight to safety, any dip might be short-lived. I'll be watching for a possible gap up on Monday open, and will adjust my strategy accordingly. Risk management is key over the weekend especially.
DXY

Replies (1)

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olusegunoluwole87 PRO newbie Mar 20
Hey @nicholaswalker81, I hear you on the potential pullback, but calling it 'overbought' on the DXY RSI at 55.5 feels a bit premature, doesn't it? We've seen these levels before and the dollar just kept grinding higher, especially when there's this much geopolitical tension. Remember that Strait of Hormuz news? That's exactly the kind of disruption that makes the dollar a go-to safe haven, pushing it past resistance levels that technicals might suggest should hold. I'm not looking for a gap up on Monday, I'm looking for it to push through 99.50 and test that 99.70 area again. If anything, the 'flight to safety' narrative is still very much alive and kicking, and that's the fundamental driver right now, not just some RSI reading.
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