LastBattle
Short

What happens with a full bus of Dollar bulls?

FX_IDC:USDSGD   US DOLLAR / SINGAPORE DOLLAR
Dear all,

Major markets against the USD are at a turning point right now.
I believe that the dollar have topped, at least in the short term in anticipation of a rate hike. Anyone who are long on the dollar have already bought them.
The next FOMC on 14/15th December will most likely accelerate the downtrend, it is impossible for Janet Yellen to raise even 0.25% at this point in time. The U.S. economy is not as strong as it seems. There is an almost 90% correlation between the stock market and QE             , the collapse of manufacturing, trade.

1) FXCM             SSI             (Retail positioning)
Retails seems to be all in on stocks and rather bullish in every USD based pair!
https://twitter.com/FXCM/status/671699353778724864

2) Double top in Dollar Index            
snapshot

3) Double top in USDSGD             in a shorter term scale
snapshot

4) Gold             bounced off a critical trendline
snapshot

4) Double bottom off EURUSD            
snapshot

5) Oil             isn't going down further despite OPEC not cutting supply.
Oil             have an almost perfect correlation when you look at it from a monthly perspective.
snapshot

Ironically, at this point in time everyone seems to be long in the dollar. I suppose with the help of mainstream media like CNBC, Gartman, etc.
We'll more likely see a short squeeze in the near term before Dollar gets higher with the deflationary force.
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