Dixie seem to be struggling.
It has tried and tried, but failed at several levels in a consolidated state.
Looking to short from 101.5. It start likely retrace toward 90-level.
On the Last DXY post we followed the wedge and shorted this. we have now arrived at the bottom and I suspect that we will start climbing our way back to about 101 level or until we hit the falling trend line.
Long term it seems that this will be DXY last rise to the upside. failure to break above the wedge will result in a large decline.
POST ANY THOUGHTS.
Dollar bears have been appearing to hold the 1.34000 level on USDCAD with a big volume selloff on Mar 15th. I shorted a 50% retracement around 1.34200 and looking to target 1.30200 though we do have first support at 1.33000. Will look to cut risk around that level.
as seen in previous dxy chart, irrespective of the huge fed repricing the USD finished the week lower - not a word from the fed this week so expect a potential for a hike in europe, market is pricing in first hike in almost 3 years
DXY is testing the neck line of Double top pattern beside 50% Fibonacci and Moving Average 50. expecting that prices will go to 101.00 and 100.75 respectively
There is almost no doubt that FOMC will hike their rates.
The best setup we can have for Short the Dollar.
Difference between Dollar Resistance and Gold support is in no way stable.
Gold is the one leading.
No questions about Gold, but this one is beatiful.
This time I have massive Short ( biggest position ) in Short DXY from 101.60 with no Stops.
As well I...
We have a full house of markets; Euro still alone holding against the flow. NFP was a clear overshoot sending signals that hikes are beginning to weight heavier in equities.
THE EASY PART OF THIS MOVE IS LONG GONE!
Lets try to make this idea productive for all; extreme divergence between dollar and euro and just the pure chance of making that gap even wider...
long it , to the trend ,
Then short it to the B AREA
if the price goes up the red trend , and it is something really hard but everything in the market can be , so long it again to A Area
see you after 7 years :=) , or if something really big happen ,and i expect the second one ,
Update idea
Yellen continues to beat around the bush regarding a rate hike this month. Yields have been rallying leading up to Yellen's speech but the Fed continues to disappoint by not providing a concrete decision on whether they are raising or not. If we treat this as a fake break of the trend line but more so as a box and range then we could see 2.300 again before the...
Today we ran a clean level of stops around 101.70 with a nice reaction and 4H pinbar. There has been some divergence in the recent up move though we could see more bullishness to 102-102.50 levels before turning. There is a liquidity void where orders were not filled around 99.00 which I believe we will need to fill before further upside.
