LastBattle
Long

More uptrend from the consolidation?

INDEX:DXY   U.S. Dollar Index
For the whole of July, US dollar             have been pretty much consolidating after hitting the 1.618 fib resistance level from the lows of 2008.
A break above 98.7 over the next few days would be really bullish for Dollar, and signals a continued uptrend to 104 and 120.

What would the catalyst be? Expectations of a rate hike? More EU woes? China collapsing bubble?


For this trade, I will just short oil             via long on DWTI             ETF (3x inverse crude) in expectation of a stronger dollar. Since oil             have been strongly correlated to Dollar since July 2014 as seen from the chart on the left.
bilk29
a year ago
thank you.Down or up?
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Yahia.Awes
a year ago
What about this one?
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Yahia.Awes Yahia.Awes
a year ago
Rate hike for yellen will be impossible if DXY won't fall this will be manipulated if you ask me and bearish div will be triggered.
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LastBattle
a year ago


Closed short on oil to re-short later. Getting ridiculously oversold here, overdue for bounce to 51 before more doom.

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