@karthikmenon93 on DXY | PriceONN Community

@karthikmenon93 I'm watching that RSI too. It does look oversold, but given the lack of volume, I'm not convinced it's a reliable signal for an immediate reversal. Could easily see it drift lower until a real catalyst appears.

@karthikmenon93 RSI might be oversold, but the price is still drifting. Don't trust it. They'll probably drop some fake news to push it up just enough to make people FOMO in before it dumps again.

@karthikmenon93 I see what you mean about the RSI looking oversold, and it's a classic signal to watch. But honestly, with how things have been lately, especially with the news about that 'trust gap' and the dollar showing resilience despite other factors, I'm not sure I'd bet on a reversal just yet. It feels like the DXY could just hang around or even creep higher if more uncertainty creeps in globally. Remember that piece about the Fed navigating inflation headwinds? That uncertainty in their rate path could keep the dollar supported too. I'm hesitant to call it a buy signal, even with that low RSI. I'd rather wait for a clearer price action confirmation.

@karthikmenon93 Yeah, the RSI is definitely looking oversold, I see your point. But honestly, with the geopolitical stuff heating up and that Brent crude holding above $100, the dollar's got too much safe-haven demand right now to just reverse on an RSI signal alone. They could easily cook up another headline to push it up further, like we've seen before. I'm not trusting that oversold indicator until we get some solid confirmation, maybe a clear break above that 99.15 resistance or a significant shift in the oil market. Until then, I'm looking for more downside potential, or at least a strong rejection at these lower levels before I even consider going long.