TimStuyts
Long

Dollar index follow up of today's buy

TVC:DXY   US DOLLAR CURRENCY INDEX
166 3 8
today just before the ECB press conference I posted a chart where I stated to buy the dollar index             (or short EURUSD             for that matter). Not only structure pointed into this direction but also ask yourself what is Draghi going to do that brings the Euro             higher? We are in a deflationary environment and Central Bankers are losing control (or already lost control). We can go on and on what this means for the 4 major asset classes and where the money will flow to but we should all be warned that fear will enter the market which means money will flow into safe havens like the dollar. I therefore consider a long term bottom for the dollar. It is not confirmed yet and anything is possible but sooner or later the Dollar trend will continue and I believe that will rather be sooner than later. Once we see the crash in the global indices we will see another round of Dollar strength. However we don't know when this happens and I see some more room to the upside for the US indices first. But the responses in the Forex market will get more extreme and that's the time you want to look for buying safe haven currencies like the dollar. My Dollar index             is therefore very bullish . This doesn't mean we can't go down anymore but if you entered as mentioned in the post of earlier today you can bring stop to break even, use 50% for intra-day targets and let the rest run long term.

www.timstuyts.com

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TomPower
2 months ago
That is going to pressure precious metals
+1 Reply
TimStuyts TomPower
2 months ago
exactly among other instruments.
+1 Reply
Bob_B_Northman
2 months ago
excellent Tim
+1 Reply
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