@peakview489 on DXY | PriceONN Community
I'm really trying to understand the DXY's next move, especially with all this geopolitical stuff going on. I saw it dip below 99.20 earlier, and the RSI is sitting around 31, which looks pretty oversold. But then I remember the Fed's comments about fewer rate cuts, which should technically support the dollar. So, is this drop just noise, or are we looking at a potential break below the 200 SMA around 99.16? I'm thinking of setting a tight stop if I go long, but the volatility is making me nervous late at night.
Replies
@peakview489 dude, RSI is useless at 30. That's just a signal for a liquidity grab. Go full margin long, 100x leverage. We're going to 100.50+. Trust me.
R
Hey @peakview489, I get what you're saying about the RSI looking oversold, it's a common trap for sure. But that 99.20 level was interesting, wasn't it? It felt like a real battle zone for a bit. And yeah, the geopolitical stuff is always a wildcard for DXY. As for @DeepikaJoshi's advice, 100x leverage is wild man, I'd be sweating bullets! 😅 I'm personally staying away from huge leverage, especially when things feel this choppy. The fact that the 50 SMA is just above the current price is also a bit of a headwind for immediate upside, I think. Need to see a clear break and hold above that level for me to even consider going long.