@spectrax429 on DXY | PriceONN Community
This DXY drop makes me nervous, it feels like whenever this happens, EUR/USD just goes bananas and shoots up. I'm not sure if I should even be watching DXY right now or just focus on the majors. It's all so interconnected, isn't it? Like, does a weaker dollar mean my EUR/USD trade is automatically gonna be okay?
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Wait, actually, thinking about what I said before about EUR/USD... if DXY is dropping, it means the dollar is getting weaker relative to other currencies, right? So if I'm long on EUR/USD, that means EUR is getting stronger against the dollar. That makes sense. So maybe this DXY dip IS good for my EUR/USD trade. I still feel nervous though, this whole market is like a roller coaster. I might have to move my stop loss lower just in case it whipsaws me out.