@quantumleap187 on DXY | PriceONN Community
This DXY chart is confusing me today 🤔. The RSI is kind of in the middle, not really showing a strong trend. And the price is sitting right around the 50-day SMA, which doesn't tell me much. I saw the news about oil prices and potential Fed hikes, but the dollar is actually down today? Makes my head spin a bit, to be honest. Is anyone else finding it hard to get a clear picture?
Replies
Wait, I just remembered something else. With the DXY actually pulling back today, maybe that gives gold a bit of breathing room to actually start moving up? Especially with all the geopolitical stuff going on, like that energy shock news. I was focused on how the dollar was capping gold, but if the dollar weakens, even a little, gold might finally decide to take off. It's like a seesaw, isn't it? I'm going to keep a closer eye on that 20-day SMA for the DXY, seeing if it can break below it could be a sign. Still feeling a bit uncertain though, lots of conflicting signals everywhere! 🤷♀️
C
Hey @quantumleap187, I get what you mean about the DXY confusion. The news seems to point one way but price action another. The 50 SMA holding as resistance is key, and that geopolitical news should be a tailwind, but it's not acting like it. Strange.