The chart is end-of-day, so updated at the close of December 31.
Today, at least for the moment, the dollar is recovering almost all the loss from the last session. At 7:10 (CET) the futures contract price is $96.37 with today's high of $96.43. It, therefore, seems to want to rebound on the bearish channel's support trendline. To try to reverse the bearish trend,...
Important to be patient here with $USD. #Dollar has traded in this channel for 18 mos and is sitting at rising support which has been tested 4 times in that period. RSI not oversold
Bears should wait for break. Bulls should look for confirmation that channel holds. $DXY
Since February 2018, a rally began in the Dollar Index which saw it move above the 200sma
in May of that year and continued until it reached a high of $97.53 in November 2018.
Price has been trending to the upside but it has been a slow gradual process,
moving sideways the majority of the time with the occasional breakout.
What helped and assisted price is...
USD's strength has been quite unexplainable due to the lower rates in the US now. Though some explain it as a safe haven move, seems investors don't mind the expensive USD to buy stocks. Currently price plays out very well the DB on the daily chart and is moving up nicely to its target. I would expect more strength for the near-term.
I know this may be a shock, but this long-term chart of the dollar suggests that the greenback may be setting up for massive gains in value, over the next 15 years or so. This chart is full of bullish formations. Let's start with the largest of the formations, which is the descending wedge (in black.) You can see that since these futures contracts went live in...
this diamond pattern most assume would be a top, but in some circumstances, it can be a continuation. based on past instances of deflation my best guess would say this is a continuation. during periods of deflation currency/buying power increases due to falling prices and the incentive to hold for further falling prices. with global currencies weakening in...
all relates to interest differentials and the cross currents of the need to print before the clock runs out. as we've seen china is loosing control of the currency. when their currency weakens their peg partners strengthen... that being said when you weaken your currency you import inflation, however you export deflation. if we dont make drastic moves to weaken in...
fed funds vs ioer vs 10 year. year theyre gonna have to print not because they want to because they have to longer term to regain control over the dollar...
I have been pretty dead on with the futures chart. Have made a bundle of cash with #capitulation . Cant wait to see what end of July brings.
FYI- todays #puts were a huge seller and #calls leveled out at 12 % only
usd is in consolidation mode and looks to pop for the month of July. Get ready with $aapl $tsla and $fang calls. Watch your stops.. We should hit $spx to 3k by July 12. Maybe Independence day gift.
hooorah!
