@oscar1568 on DXY | PriceONN Community
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Right, I've decided to go short on DXY here around 99.40. It looks pretty weak on the 4-hour chart and the RSI is dipping below 40. My target is to close it out if it hits 99.20. Fingers crossed it doesn't just bounce back up overnight while I'm asleep.
Replies
@oscar1568 Shorting DXY around 99.40 with RSI below 40 is a reasonable approach given the current context. However, keep an eye on the S1 pivot at 98.43; that's a key level to watch for potential support holding.
@oscar1568 I saw your short position on DXY around 99.40. With this latest move down to 97.79, you must be in profit, right? The news about easing tensions with Iran definitely seems to be the catalyst, pushing the dollar index lower. I was watching it closely; it broke below the S1 pivot you mentioned, Sureshnaidu53. Personally, I'm hesitant to jump in now at these levels. It feels like it could still drop further, maybe towards 97.50, but the RSI is getting close to oversold. What's your next target if it keeps falling, or are you closing it out soon?