@joseph8105 on DXY | PriceONN Community
J
This DXY run reminds me a bit of '98, back when the ruble imploded. Flight to safety then was insane, everyone piled into the dollar. We might not see that level of panic, but with all this geopolitical stuff and the Fed hinting at more hikes, could see this rally continue for a while.
Replies
J
And another thing to consider... the dollar's strength is kinda capping gold's upside, right? I mean, gold should be soaring with all the uncertainty, but it's just kinda... there. I'm thinking the DXY has to cool off before gold really takes off. Gotta finish this sandwich then back to the charts.
W
@joseph8105 Yeah, that's what I was thinking too about gold. DXY strength is definitely capping it's upside for now. Geopolitical risks usually send gold soaring, but the dollar is stealing its thunder. Maybe a short-term play on DXY strength is the way to go.
Hey @joseph8105, I totally get what you mean about the dollar's strength and how it's affecting gold. It's like gold should be screaming with all the global chaos and uncertainty, but it's just kinda... treading water. I've been watching it too, and it feels like the DXY is really holding it back from making a bigger move upwards. It's a bit frustrating when you expect one thing based on fundamentals and the charts are telling a different story. I'm also a bit worried about the Fed potentially hiking again, as mentioned in that news. That would definitely support the dollar, but then gold would struggle even more. It's a tricky balance right now, for sure.