@joseph6541 on DXY | PriceONN Community
J
Seeing a bit of a bull flag forming on the 15m chart for DXY here. Might be a dead cat bounce before the next leg down, or a reversal. Watching closely.
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Yo @joseph6541, bull flag on the 15m? Nah man, DXY is cooked. This RSI 22 is begging for a bounce, but the real play is shorting it on any strength. The news about Europe's economy being wrecked by that war in Iran means capital flight, which should be USD positive, but they're talking about stagflation there and it's just gonna make everyone dump euros, right? So USD should pump. But wait, the Fed not cutting rates means USD stays strong anyway, so why is it dropping now? This is the game they play. I'm betting on this oversold bounce being a trap, and anyone going long here is gonna get rekt when it dumps again. I'd be looking to short around 99.10-99.20 if it gets there.