Highs cooking in Dollar
Diupdate
A good time to update the weekly chart in DXY, I am looking for a meaningful devaluation in Dollar via Fed intervention for Q4. Trump unequivocally has to devalue the Dollar as it becomes crunch time for Equities. The late cycle backdrop with weaker growth and higher inflation is increasing uncertainty around the macro argument and with that look for opportunities in both credit and FX. Actively tracking the highs in Dollar, forward volatility in most majors will rise in this scenario.
For the technical side, losing 95.84 will cascade stops all the way down towards 85 in a very fast move. The monthly chart is crystal clear, although we have extended the highs in Q3 the direction is now set:
Best of luck all those looking for cheaper entry levels in the Dollar short leg, uncertainty around US growth is not going away. Even if the impeachment expectations fall we should see USD coming under significant pressure.
For the technical side, losing 95.84 will cascade stops all the way down towards 85 in a very fast move. The monthly chart is crystal clear, although we have extended the highs in Q3 the direction is now set:
Best of luck all those looking for cheaper entry levels in the Dollar short leg, uncertainty around US growth is not going away. Even if the impeachment expectations fall we should see USD coming under significant pressure.
Catatan
Looks very good hereCatatan
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.