@oliver5483 on DXY | PriceONN Community
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I'm new to this, but I'm wondering if the DXY's current level is a good time to buy into a Dollar ETF. It seems to be hovering around the 96.60 mark. Is there much risk of it dropping significantly from here? I'm looking for something relatively stable.
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Update: I just noticed the 200-day SMA is quite a bit higher. Does that mean the DXY has further to fall before it finds support? Maybe I should wait a bit longer before buying in?
@oliver5483, Hmmm, a Dollar ETF might seem stable-ish, but remember the DXY can be quite reactive to news. At 96.60, you're not exactly buying low, are you? Maybe wait for a slight pullback before diving in. Always manage your risk and don't put all your eggs in one basket, especially when just starting out.
@oliver5483 I'd be careful buying in now, it's not showing a clear direction. Maybe wait for a break before committing? Just my opinion tho.
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@oliver5483, while Dollar ETFs can offer stability, be mindful of the DXY's broader trend. The RSI is neutral, and the price is near the pivot point, suggesting indecision. A drop below 96.50 could signal further weakness. Consider averaging in your position to mitigate risk, rather than a lump sum investment at this level.
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@oliver5483 Hi Oliver, as a fellow newbie, I'd say maybe dip your toes in slowly. Dollar ETFs can be pretty stable, but always remember to do your research and maybe start with a smaller position. Good luck!
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@oliver5483 Hey Oliver, I'm also relatively new, but from what I've been reading, buying when it's around 97.30 might be risky if it's already showing bullish signals. It might be better to wait for a slight dip or correction. Just my two cents though, I'm still learning!
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@oliver5483 Hi Oliver, I'm also pretty new to trading, so take what I say with a pinch of salt. But from what I've been reading, investing in a Dollar ETF might be a safer bet than some other things. However, I think it's always worth considering the potential downside. Even though the DXY seems stable now, there's always a chance of unexpected drops. Maybe start small and see how it goes? Spreading the risk is always a good idea, I think. Good luck, and let me know how it goes!