The dollar is in a secular downtrend, but after retracing 78.6% fib of its recent up move it looks to be trying to put in a double bottom. Going long DXY here to play for a potential bounce higher. This would be a potential negative for risk assets and is certainly something to keep an eye on. Don't expect it to completely reverse trend here but a nice pop...
DXY is finally reaching the top of the MAJOR channel, with a TD9 weekly set to print on October 10th. This is a potential major bottom in markets.
We spoke on $DXY bottoming, looks that way! Another $ call! US #Dollar #currency #currencies $UUP also up 1% I know, not a lot but every $, no pun intended, counts
The Dollar has been in a steady decline since topping out in October, however, the looks of that decline could be finally turning. Bulls are trying to show some signs of life down here to kick off the new year. Currently holding a long position for a trade looking for higher.
Spx opening higher on Monday . There is going to be a cycles turned date this week.
UUP hitting upper trendline in parallel channel (yellow) and also nearing longer term resistance trendline (red). Expect pull back in UUP to 29.5 levels soon
Let's see what happens next with CPI this week.
Dollar pulled back into that $29.50 zone of support and more importantly, the 10-week ema. That gave us a "bend don't break" reaction as it ultimately held as support. Now rotation higher, I'm looking at a trim in the $30.40 to $30.50 area. That lets us move to a B/E stop (or higher) and turn our attention to $30.50+ to see if the UUP can gain momentum. Cheers
All my other charts are pointing me to believe we see a meltdown in most assets until the end of the month. This would coincide perfectly with a dollar melt up during that same period. Unfortunately we all know the only thing that matters at this point is central bank policies, so the Nov 1-2 Fed meeting will likely be an inflection point if they pivot. If they do...
I think a pullback in the dollar is imminent. It has been a perfect storm in the geopolitical world with inflation, talks of war, tough financial decisions by countries that will likely have a long-lasting effect on their financial futures. Now unless the world really goes to crap and financial systems collapse in the next week, I am unsure how much higher the...
The Dollar offers a nice reward to risk entry as a continuation trade here. I'm long via FX pairs and a Dollar Index position. Eventually, it might take coordinated intervention to stop this advance, fundamentals are firmly in place for a continued trend in the Dollar against foreign currencies, given the limitations to affect the energy market and of monetary...
-RSI inverse H&S formation, looks to be gaining strength and passing test at 50 RSI -Downward trend (orange trendlines) was broken. Now DXY is trading in a parallel channel (white borderlines, gray centerline) and has been bouncing off the bottom like a pinball and then hanging around the midway point of the channel consistently. -MACD is curling up and...
Dollar built a double bottom , uup's bottom at 24.11 , neck line at 25. It will trending to 27.
The US DOLLAR has topped out and now beginning it correction. This is very bullish/positive for US Stocks for a new "potential" indication set up for them to breakout on a impulsive wave up. It had touched my previous forecast of 110 as my last target. Federal Reserve will take a more aggressive approach in hiking interest rates next week. Expectations for...
Dollar has once again proved to be safe heaven. FED will keep on increasing rates to break the inflation. Long - UUP Use trailing stop loss from 28
DXY seems to be making sort of a W-pattern with double bottoms at 89 & double tops at 103. Last week it reached 108 almost touching the red upper downchannel (started from the 2002 120 levels) whose median was tested at 89. Dxy retraced & is resting at 107, the 1.272 Fib retracement of the 103 to 89 range if last week is a bulltrap (false BO from my yellow box),...
Does look like a bird right? flying into the distance lol Some may say its a bull flag. Dollar Strength over the next year $UUP
After news of the ECB having an emergency meeting - same day Powell raised rates by .75bps - The Dollar took a cooling session. Possibly due to central banks looking for ways to tackle rising borrowing costs. I don't think the bull run is over for $DXY - it takes is a global recession to see possible all time highs - even higher then the 1980's. Signs are there