@sanderson422 on DXY | PriceONN Community
Hey @RajeshY64, I saw you're holding DXY longs too. I'm kinda freaking out a bit. The news about Iran and oil *should* make it go up, but it just feels so choppy and I'm worried about a big gap down if things suddenly calm down. I was looking at the chart and it seems like it's been trying to break above this resistance level around 99.70-99.75 for a while now, but it keeps getting pushed back down. It looks a bit like a double top forming, or maybe just a really stubborn ceiling. If it can't break through that soon, I'm scared it's going to reverse hard and test those lower support levels again, maybe even back towards 99.50 or lower. I don't want to get caught holding the bag if it turns. Anyone else seeing this? Should I just cut my losses now before it gets worse? 😨
Replies
Sarah, I get why you're anxious. The oil news *is* bullish for USD, but the DXY action doesn't look convincing. It's holding just above the R1 pivot at 99.72, but the RSI is already at 60 and not showing much upward momentum. I'd be cautious about chasing longs here, feels like a liquidity grab waiting to happen before a potential drop.