Tedzily

Losing faith in the Dollar $DXY

TVC:DXY   U.S. Dollar Currency Index
During the begginning of the year there was some home for the dollar. it seemed as if we were within reach of making our most competitive currencies such as the British Pound, the Euro , The Franc, and The Canadian Dollar about as close as 1-to-1 as possible. Well Today, I think those dreams are farther than what they could've been. What's the reasoning for the shorting the dollar. Has the fed printed too much thus devaluing the currency as much more is in circulation than needed? Or are people looking for a new raw metal like gold , or are they looking for a completely new system like crypto?

If you look at this daily chart , you can see that the dollar did hit an area of previous support, it was actually an order block (a down candle that caused displacement afterward) that was in the middle of the skyrocketing price. It was in June when the price decided it wanted to slide down and down and down and then it finally hit a floor in August it went sideways for the last few months. I thought it would eventually pick back up given certain consequences. Those consequences are now showing and I believe our fiat dollar will no longer be the worlds currency. It has been lower that what it is now, yes I know that. But that doesn't mean it's a good thing. Think about your monitary positioning now, what you will do with the money you have, how will you keep it strong. Ipersonally believe this is the beginning of the end of the USD. So position yourselves to earn from the fall, it can be done if you are wise. I'm not saying I'm the best and know everything. I'm just simply stating my opinion.

In technicals of the DXY , just watch the key levels and see how price actions works at those key levels. Does it continue slipping? or does it consolidate for another few months and the revive?

I'm going to guess that it's going to continue to slide. But what do I know? I'm just some rando guy that likes to post his ideas on tradingview and go on rants about what I believe so I could be absolutely WRONG. Oh btw, you're welcome to vent about anything in my comments section, some people just neeed that.

But good luck and good trading :) TVC:DXY
Comment: I just learned last night that 22% all of the dollars in circulation were printed this year.... WTF?
Comment: Also here's some information to add to this. There's an indicator I would suggest everyone use called r_COT (Commitment of Traders). This can be used on all futures. Or you can go to Barchart.com and select a commodity and add the study "Commitment of Traders" to any commodity Futures. Even Bitcoin. The commitment of traders is a report that is designated by law that certain levels of currency holders must show their positions in futures. Commercial speculators (Bank of England, Deutsche Bank, JP Morgan, IMF, The Fed), Large Speculators (Hedge fund managers, people that work at financial services companies that help people retire), and Small Speculators (you and me). Commercial Speculators do have a hand in the Bitcoin game, So that price can and will be manipulated. Don't think Bitcoin is going to be the next thing that gets around government.... because governments with large bank accounts can also invest. Theres no way around that. And when they put all of their money in it slowly, they'll start manipulating the price, and it's already begun. Don't get fooled by Crypto's. Be smart about them.

Comments

looks like a local floor for now..Daliy MACD and RSI bottomed.
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I think we should go up from here when DXY hit 90.50 level but also might be your case! nice one ^^
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Tedzily GreenCandleTrading-GCT
@GreenCandleTrading-GCT, This hurts my brain and my eyes
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US debt is $30 trillion ....a near term stimulus package will blow US debt out to well over this figure. Who controls bitcoin and other crypto's. When someone finds out, please let me know. Smart money is on gold and gold shares. That is where good value lies. Watch the gold price go to $2,500 / ounce over next 12 months and DXY fall to 85.

That Auzzie bloke from down under. Good night and good luck.
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Nice breakdown, DXY 88 lookin likely at this point but it should bounce back up after that.
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It's still the safe haven of choice. When the overvalued equity markets start going down, as in their own good time they will, the DXY will buck up. IMHO!

I don't see why the Euro would go up under those circumstances, though, which might set up some great EURUSD shorts.
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@Ucsc14, Buy #BTC. great hedge against the DXY
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