Quite the recovery for the dollar, expected but not as quickly as it happened. Key line in the sand is now 99.25-50 and with pullbacks we will look for new dollar long themes to share here.
We believe over the next 24 hours will only see a small consolidation on the dollar. We are calling for this weekly low to be defended, however we are not trading anything. Our book is currently flat and will most likely remain flat into the approaching weekend. We will again look for long dollar themes, but we think for now it's too early. Our long dollar...
Stops: 1.0830 Break Even: 1.0650 Take Profits: 1.0550-1.0400
Stops .6570 Break Even .6500 Targets .6478-.6400
We expect to see the dollar trade down to sideways for the next two days. The markets are very confused right now, and we don't have the time to explain the expose. It's the same repeated news and data points we are hearing everyday, no real material change. The big question is whether or not the market will bite on the data and put in a cyclical top for the...
While we could see a new break out, that's okay as we would benefit from it from our attached live trade below. We cut exposure early in any other positions we took yesterday to profit on the USD strength. It looks like we are losing some momentum here, and that price wants to retest 99.50s, and maybe linger or move lower. We are sidelined right now, letting our...
Stops .6520 Break Even .6430 Targets .6400-.6370
Today we saw a flight to the dollar and the headlines are saying it's because of Paris, and the response to the terrorist attacks. While a tragedy that we should all mourn, the reality is this attack has very little affect on any global macro themes whatsoever. The markets are pricing in a rate hike in the United States, and so they will look at anything negative...
Expecting the dollar to chop around, at least monday-tuesday which consistently puts our euro short at break even or at a small risk. Looking for some type of inflection into the 99.20s and then a move higher, however dips with a close on higher time frames below 99.70 will attract short sellers and might bring some confidence into that side of the market.
Expecting neutral action into Friday market close, and expecting new dollar long opportunities early next week.
NOTE: This trade has not triggered, this is an open order, unlike the last three trades we've called out in real time. Will keep updates ongoing for educational purposes.
Key levels and where we expect price to move.