captain_smollett
Short

Dixieland. Issue #3 from 11.10.2016

TVC:DXY   US DOLLAR CURRENCY INDEX
4 months ago
Updated forks and an ABCD pattern: looks like somebody finally had serious problems and had to run into the US Dollar             0.79% . But the room for a run comes to an end... It´s been said that, after the Renminbi devaluation the chinese took 25 bln out of the country while normal capital movements does not exceed 4 bln.

Regarding to a pattern itself, it ends at 99.11 There is also an option for having 98.57 and a corresponding double top . After that, it is a free run to 94.67 as a first target
4 months ago
Comment: Same pattern at UUP with very similar levels. DXY may run up to 99.50 before reversal
4 months ago
Comment: Important resistance at 98.50 is being blown out, all at cost of EUR. The movement of a capital from the EU zone to the USA is being evident.

This is exactly a moment when we start having 80%+ of the bulls... COT report will be interesting to watch this week
4 months ago
Comment: I think it is topping but not yet there...
snapshot


UUP shows a very similar structure. Wonder where oil will be when the US Dollar reversal starts
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snapshot


ABCD pattern targets oscillate between 99 and 100. If we go above this, it would mean we are heading towards 130 which means immediate risk off and a beginning of a full-scale economic crisis. S&P is far away from the targets, therefore I do not expect any strong USD raise. For now...
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