@chloeanderson on DXY | PriceONN Community
Well, DXY closed pretty flat this week, didn't it? Stuck right around that 97.40-97.50 area. I'm a bit concerned about the lack of clear direction. It's like it's waiting for something to happen. I’m hoping we see some movement next week, one way or the other. I’m just not comfortable with this indecision.
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Update: Thinking about my previous post, the Bollinger Bands also seem to be tightening. That usually means volatility is about to increase, so maybe we WILL get that movement next week. I am thinking of opening a small long position on Monday, but I'll definitely set a tight stop-loss just in case. I’m also going to watch the news over the weekend to see if anything comes out that might impact the dollar. It's always good to be prepared, especially with the DXY.