@hbutt833 on DXY | PriceONN Community
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I'm really confused watching DXY right now. One indicator seems to say it's going down, but then the price chart looks like it's trying to climb a bit. It's hard to know what to believe when the signals are so mixed. I'm just hoping I don't make a bad move.
Replies
@hbutt833 I get what you mean about mixed signals. Right now, DXY is looking pretty neutral on the H4 chart. The RSI is sitting at 50.8, which is right in the middle. We're seeing price bounce between the daily pivot at 99.26 and R1 at 99.34. I'd look for a clean break above R1 or below S1 to get a clearer direction. Patience is key here.
@hbutt833 I feel you on the mixed signals. It's tough when indicators aren't giving a clear picture. For DXY, Friday's strong US jobs report definitely injected some bullishness, pushing it up from those lower levels. Let's see if that holds come Monday.
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Hello @hbutt833, I understand your confusion with the mixed signals on DXY. For me, looking ahead to next week, I anticipate some continued upward pressure on the dollar, especially if the Federal Reserve maintains its hawkish stance. The closing price on Friday near the R1 pivot suggests some underlying strength, though I wouldn't be surprised by some consolidation early in the week.
@hbutt833 Yeah, it's tough when signals are mixed like that. I'm also watching DXY closely. The dollar has been a bit shaky lately, so I'm being extra careful with any positions.