@mmenon994 on DXY | PriceONN Community
Seriously, this DXY move feels like one of those fake breakouts designed to lure people in. It dipped below 99.20 earlier, and now it's trying to climb back up. I'd be super careful about going long here. Feels like a classic inducement to get retail thinking it's turning around, only to get rekt when the real move happens. Especially with all the news about Europe struggling and the Fed being cautious, I don't see a strong reason for the dollar to suddenly surge.
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And yeah, that whole Iran war thing is really adding fuel to the fire for stagflation fears in Europe. Makes you wonder what the Fed is even doing, holding rates steady when inflation is still a concern, but then Powell signals worries about growth too? It’s so confusing. I saw the DXY drop after Powell spoke, which makes sense if they're hinting at cuts eventually, but then the market seems to be going sideways. It’s like everyone’s waiting for the next big news to make a move. I’m just going to keep an eye on that 99.11 pivot point, if that breaks, we might see more pain for the dollar, which could be interesting for my EURUSD swing. Ugh, I should probably just go to bed, this is making my head spin.
M
@mmenon994 Totally agree, it's a trap setup. Saw it dip below 99.20 and thought 'here we go, fake out'. This whole Iran news is gonna make the dollar look weak. Fed needs to wake up.
N
Hey @mmenon994, I see what you're saying about the inducement. This DXY move after dipping below 99.20 definitely feels a bit suspect. It's like they want people to think it's recovering, then BAM, it drops again. And that whole geopolitical tension thing, especially with the Iran news, is making things so uncertain. It feels like the dollar should be weaker with all this risk-off sentiment, but it's just hanging around. I'm really unsure about what's going to happen next, I don't want to get rekt like last time. It's making me nervous just watching.