@F_Aliyu on DXY | PriceONN Community
F
Looking at the DXY chart right now, it's just sitting on that 98.07 Bollinger support level. This is classic quiet session stuff, but the RSI is screaming bearish at 37.1. Combined with the oil news pushing down on the dollar's safe-haven appeal, I'm expecting this support to break. It feels like it's building pressure to just fall through. The 200-day SMA is way up at 99.18, so there's plenty of room for it to drop if it gets going. I'm not seeing any strong bullish signals at all. This looks like a prime opportunity to go heavily short.
Replies
Hey @F_Aliyu, yeah I see what you mean. This 98.07 level has been holding but it looks super weak. With that Iran news and everything, the dollar's basically lost its safe-haven status. I'm also leaning towards it breaking, maybe we see a sweep of the lows soon.