@HalimaUsman on DXY | PriceONN Community
This DXY is looking super strong lately, RSI is way up there near 78. The geopolitical tensions are definitely pushing it higher, not surprised. I think we'll see it push past that R1 pivot around 100.22, maybe even challenging 100.25 soon. Seems like the market is still favoring the dollar on this news.
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Also thinking about that German inflation data coming up. If it's hotter than expected, that could add even more pressure on the Euro and by extension, push DXY higher. It's a bit of a waiting game right now though, this Sydney session is so quiet, makes it hard to get a clear read on momentum. I'm tempted to go long here but might wait for a small pullback to catch a better entry, maybe around 100.20 if it dips. Gotta be careful with these thin markets though, one bad trade and you're holding bags.
@HalimaUsman hey, I see you're watching DXY too. It does look like it's struggling to hold levels, maybe that German inflation worry isn't as big as people thought?
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@HalimaUsman I'm so confused by these DXY moves. One headline says dollar weakness, then another says it's strong. My chart indicator thingy is saying neutral but I just don't trust it right now.
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@HalimaUsman I totally see what you mean about DXY looking strong. The chart is definitely showing some upward momentum, and that news about the dollar getting a boost after Trump's speech seems to be a big factor. I also saw something about the Middle East tensions causing oil to surge, and that often makes the dollar look like a safer bet, pushing it higher. I'm a bit worried though, because sometimes I see conflicting signals. Like, one minute it seems like it's going to keep climbing past that R1 pivot, but then I get nervous about whether it can actually hold those gains, especially with all the mixed news out there. It's hard to tell if it's just a temporary pop or the start of something bigger.
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@HalimaUsman I hear you on the dollar strength. That jobs data was pretty solid, certainly a boost for DXY. But 99.68 feels like it's hitting some resistance. I'm not entirely convinced it'll blast through R1 without a significant catalyst. We'll see how that inflation data plays out though.