The Dollar (DXY) is seeing support at the lower band of the wedge, and if it holds, we could be looking at potential upside to the 95 level, where our monthly target is sitting. If we lose this support, the dollar has downside to the previous low from February around 90.
Thanks for sharing, if it goes to 95$, probably SPY will goes to 400 area, Am I right?
Hedge_Of_The_World
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@shkspr, Hey buddy, I think you meant 90? We're seeing weakness across global markets today, and because money is flocking in to safe havens such as bonds, comodities, consumer defensives, and healthcare, the dollar is flat on the day. We could see the dollar drop to the 90 level, but those outflows may continue into safe havens. I'm expecting the dollar to rise to 95 off a major correction across the asset classes. Maybe we're seeing the onset of this correction today, maybe not.
shkspr
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@Hedge_Of_The_World, lol, *90, you are right. thanks for the insights, I really appreciate. It's essential for us to understand the macro economy and moneyflow, this is one of my weaknesses.
good luck my friend :)
Hedge_Of_The_World
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@shkspr, Appreciate you, my friend. Great to see you again, it's been a while since we've chatted. Good luck to you as well. Cheers!
shkspr
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@Hedge_Of_The_World, great to see you too, I'm your loyal fan, always I learn from you and you raise a question that leads me to learn something new. :), GL
Hedge_Of_The_World
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@shkspr, Same here, my friend! GL out there today. :)