darth.stocks
Long

DXY : major move ahead

TVC:DXY   US Dollar Currency Index
65 2 4
This weekends COT Report confirms me in my opinion that a major move in US Dollar Index             is ahead. With commercials Net Short % positioning at 21 % we have to be aware that the last time we had such low shorts from commercials, the DXY             was at 79 !!! COT Index (156 weeks) reached again 80 and Blees Index (78 weeks) is back to 100 .
Hi darth.stocks! Thank you for your schedule, that is, move down to 91-90 DXY you are considering?
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90....?
My recent comment on one of my Gold Charts:
Hedging Brexit with Gold: Really the right thing?
with DXY consisting of :
Euro (EUR), 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP), 11.9% weight
Canadian dollar (CAD), 9.1% weight
Swedish krona (SEK), 4.2% weight
Swiss franc CHF (the rest..)
we are talking about 69.5 % of the DXY Basket being affected. With GBP having an at least downward potential of 20% and the EUR of 10 % (as being discussed also here) the effect will be a min. 8.6 % upward movement of DXY that may be compensated to 7-8 % by a strong strengthening of JY/CHF. With Gold being inversely correlated to US $ Strength it is unreasonable to bet on an upward movement of Gold.

91-90 is highly unlikely. But certainly possible.e.g. ECB/SNB/BOJ and Rijksbank suddenly rising rates...
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