@SophieC81 on DXY | PriceONN Community
Well, after that Friday jobs report, the DXY certainly ended the week on a strong note, pushing up near 99.70. Personally, I'm watching that 100 level closely for Monday's open. If we gap above it, I might consider initiating a small long position, but only if the immediate price action supports it and we see continued dollar strength globally. Otherwise, I'll wait for further confirmation.
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And with that AUD/USD reversal we saw on Friday from the strong US data, it really highlights how sensitive the DXY is to these NFP numbers. It makes me think that if any other major economic data comes out surprisingly strong this week, we could see another push higher for the dollar, potentially breaking that 100 psychological level.
Actually, thinking about it, the thinner trading volumes due to the holiday might mean Monday's open could be a bit wild. I'll be extra cautious with any trades right at the open.