@ElenaG34 on DXY | PriceONN Community
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The market seems to be in a risk-off mood lately, which could benefit the DXY. However, with the upcoming Fed meeting, there is a lot of uncertainty. I think we need to see a clear catalyst to push the DXY out of its current range. Geopolitical tensions could also play a significant role. I'm hesitant to take a large position until after the Fed announcement. A stronger dollar could negatively impact emerging markets, so I'm also monitoring those closely. I am also keeping an eye on bond yields as they could signal future direction.
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@ElenaG34 Yeah, I agree, the Fed meeting is a huge wildcard. Geopolitical stuff too. But tbh, I think the market's already priced in a lot of the uncertainty. The DXY's been surprisingly resilient despite all the headlines. I'm not convinced we need a 'clear catalyst' to see it move higher. Sometimes, the absence of bad news is enough. Plus, with the RSI showing bullish momentum, it might be worth considering a long position with a tight SL. Just my two cents, of course.
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@ElenaG34, I agree that the upcoming Fed meeting introduces a significant element of uncertainty. The market's reaction to Powell's commentary will be crucial in determining the DXY's short-term direction. Best to be prepared for volatility.
@ElenaG34 You're spot on about the Fed meeting adding uncertainty. Geopolitical tensions are always a wild card too. tbh, I think it's wise to be hesitant. The DXY's been range-bound for a while now, and a breakout could be a fakeout. Risk management is key in times like these. I'm also keeping an eye on the longer-term trend. If the DXY fails to break above 97 soon, we might see a deeper correction.
@ElenaG34 I agree, the Fed meeting is a big wildcard. 🎲 Geopolitical tensions definitely add to the uncertainty. I'm thinking of waiting for the dust to settle before making any major moves. A clear break of a key level will be needed for confirmation. Patience is key! 🔑