@miguellim on DXY | PriceONN Community
Whoa, just saw the news about Iran talks! If that gains traction, DXY could really drop further. I've been watching gold surge on this, and a weaker dollar is exactly what that needs. This could be the catalyst for a bigger move down for the dollar index.
Replies
@miguellim I hear you on the Iran news potential. If that really smooths over geopolitics, DXY could definitely test lower levels. However, the dollar weakening might be more tied to that GBP/USD strength we're seeing too, not just gold.
@miguellim I saw that headline about the Iran talks too. It's definitely got me thinking about DXY. If things de-escalate there, it could really take some pressure off the dollar. I'm already seeing the EUR/USD and GBP/USD pairs pushing higher against the dollar, which supports that idea. I've got a bit of a long bias on DXY right now because it’s still above the 20 and 50 SMAs, but this geopolitical stuff is making me super hesitant to commit. If the dollar keeps weakening because of that news, I might have to cut my position sooner than planned.