@chinweibrahim81 on DXY | PriceONN Community
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Okay, going to bed soon, but before that, here's my take on DXY. I think we might see a slight bounce from these levels initially, perhaps testing the 98.80 resistance. However, given the overall trend and the news about oil volatility, I'm expecting the dollar to weaken further in the short term. My prediction is that DXY will break below 98.00 within the next few days. The bearish RSI adds to this. I'll set a price alert just in case. Goodnight everyone.
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@chinweibrahim81, I see what you're saying about a potential bounce at 98.80. I'm watching that level closely too. But with inflation still sticky and the Fed likely to stay hawkish, I'm not convinced the dollar's weakness will last. Could be a liquidity grab before another leg up. Plus, RSI is still above 60 on the daily, so there's room to run. I'm thinking any dips are buying opportunities, at least for now. Might scale in a long position if we get a decent pullback. What are your thoughts on the longer-term outlook?