@deepRidge2 on DXY | PriceONN Community
This DXY sideways action is really something else. Friday's close around 99.79 felt like it was just treading water. I'm usually glued to the screens, but this weekend has been a good reminder to rest. Just curious to see if we get any significant gap open on Monday, especially with all that oil news driving inflation fears.
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Honestly, even with the bullish RSI at 62, this consolidation is making me a bit hesitant to jump back in with big size come Monday. The R1 pivot at 99.92 is right there, and if we can't push through that with conviction, we might just see another retest of the lower Bollinger band. The weekend is good for stepping back, but I'm already itching for the markets to open and give us some direction. Hopefully no major nasty surprises overnight.
Thinking more about that oil surge and how it's supposed to fuel stagflation fears. If that narrative holds, the dollar *should* technically be getting stronger due to yields, but we saw it weaken last week. That divergence is what @lauren9634 was talking about, and it's definitely a puzzle. I'm keeping an eye on that 99.32 SMA 200 level; if we break below that on Monday, it might signal a shift, despite the general bullish RSI. This whole geopolitical situation with the Middle East is certainly adding a layer of complexity we can't ignore.