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DXY index - long idea A stronger dollar may impact various sectors, including international trade, exports, and foreign investment. It could also influence the relative performance of other currencies and potentially reshape global financial markets. The DXY index, is poised to close the gap at the significant level of 105. This development has garnered attention from market observers and traders, as it represents a potential shift in the currency's strength. So I'm watching Waiting for 105 , and after that will we look to some crypto positions Thanks for attention
ICEUS:DX1!Long
by K_TraderX
Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
DOLLAR INDEX - FUNDAMENTAL ANALYSISEconomists at UBS, led by Chief US Economist Jonathan Pingle, have also explored potential market reactions to a breach of the X-date. Notably, the US Dollar (USD), Japanese Yen (JPY), and Gold emerge as key assets that could be significantly influenced. In most scenarios, Pingle anticipates a softening of the US Dollar amidst rising uncertainty. Interestingly, the only scenario where the US Dollar might rally strongly would involve a month-long impasse after the X-date. This extended deadlock could cause a significant tightening of financing conditions, boosting the USD in the process. "Only a 1m long impasse post the X-date is likely to cause a tightening of financing conditions sharp enough that it causes the dollar to rally strongly." says Pingle. In contrast, he suggests the worst-case scenario for the dollar arises if the X-date is crossed without any default. The fear of de-dollarisation, the process where the dominance of USD in the global financial system is gradually reduced, becomes a tangible threat in this case. "The worst case for the dollar is if the X-date is crossed without default; de-dollarisation becomes a real threat in this case." he adds. Pingle believes that, from a risk hedging perspective, long positions in Japanese Yen against currencies such as the Australian Dollar (AUD) and Canadian Dollar (CAD) as well as calls on Gold might be the cleanest strategies in the event of a US default. "JPY longs against AUD and CAD and Gold calls are the cleanest ways to hedge against a US default." says Pingle. He further suggests that Gold could fare well across all levels of uncertainty and potential default scenarios. "We see Gold doing well through all levels of uncertainty and default." he adds. In essence, these projections underscore the importance of being prepared for a range of outcomes, as the implications of the current debt ceiling impasse could be far-reaching and diverse across the financial landscape. Debt Ceiling Conundrum: Economists at UBS Unveil Four Possible Scenarios Economists at UBS suggest that there are four potential scenarios that may unfold due to the current impasse over the US debt ceiling. The scenarios, laid out by Jonathan Pingle, Chief US Economist at UBS, range from the most optimistic - in which the debt ceiling is lifted with minor volatility - to the most pessimistic, where a month-long impasse creates significant economic strain. Scenario 1: The Debt Ceiling is Lifted Amid Market Noise The first scenario that Pingle describes involves the debt ceiling being raised ahead of any missed payments, causing some market turbulence but averting significant damage. This echoes previous political disagreements in 2011 and 2013, where market volatility was relatively short-lived, lasting no more than a few weeks. "The economic impact under this scenario depends almost entirely on the level and duration of disruption that increased uncertainty might create for financial markets." says Pingle. He adds, "We assume in this scenario that any financial volatility would be short-lived, lasting no more than a few weeks." Scenario 2: The Debt Ceiling is Breached but Debt Payments are Prioritised The second scenario involves the Treasury surpassing the so-called X-date but continuing to honour debt service payments. This could result in a significant retrenchment in federal spending as revenues cover only around 75% of non-interest expenditures. "In this scenario, the Treasury goes past the X-date but debt service payments continue to be made." says Pingle. However, he warns that this scenario could have a more detrimental effect on the economy. "The economic outlook is a little weaker... The Federal Reserve likely sees profound institutional risk being thrust into this political fight over fiscal policy." he adds. Scenario 3: Principal and Interest Payments are Delayed after Breaching the X-date The third scenario Pingle presents assumes that the US misses interest payments by more than a three-day grace period, leading to a formal default and probable downgrades. "In this scenario, interest payments are missed and we've assumed by more than the 3- day grace period (i.e. a week) so that we can model a formal default and downgrades that would likely come with that default." says the analyst. He continues, "In this scenario the US faces more serious downgrade risk, CDS default triggers, and downgrades to the GSEs." This, according to Pingle, could potentially lead to immediate consequences for the global financial system, given the USD and US Treasury Securities' status as the world's main reserve currency and 'safe' asset, respectively. Scenario 4: A Prolonged, Month-long Standoff The final scenario, which Pingle describes as highly unlikely, would see a month-long impasse in the US political system over the debt ceiling issue. This scenario, according to the analyst, could have the most significant impact on the economy, potentially doubling the severity of the recession in the US and leading to an estimated job loss of around 700,000. "We give such an outcome very low odds... In this scenario, we could debate the path, but a large negative shock to growth at the current juncture we would argue sends the target range for the federal funds rate back to the zero lower bound." says Pingle. "Depending on the speed of the market moves and if things become disorderly, we would expect the FOMC to 50 bp rate cuts in the next two meetings to see if that helped mitigate market disruption." he adds.
TVC:DXYShort
by thunderpips
4
EUR USD - FUNDAMENTAL ANALYSISEconomists at UBS, led by Chief US Economist Jonathan Pingle, have also explored potential market reactions to a breach of the X-date. Notably, the US Dollar (USD), Japanese Yen (JPY), and Gold emerge as key assets that could be significantly influenced. In most scenarios, Pingle anticipates a softening of the US Dollar amidst rising uncertainty. Interestingly, the only scenario where the US Dollar might rally strongly would involve a month-long impasse after the X-date. This extended deadlock could cause a significant tightening of financing conditions, boosting the USD in the process. "Only a 1m long impasse post the X-date is likely to cause a tightening of financing conditions sharp enough that it causes the dollar to rally strongly." says Pingle. In contrast, he suggests the worst-case scenario for the dollar arises if the X-date is crossed without any default. The fear of de-dollarisation, the process where the dominance of USD in the global financial system is gradually reduced, becomes a tangible threat in this case. "The worst case for the dollar is if the X-date is crossed without default; de-dollarisation becomes a real threat in this case." he adds. Pingle believes that, from a risk hedging perspective, long positions in Japanese Yen against currencies such as the Australian Dollar (AUD) and Canadian Dollar (CAD) as well as calls on Gold might be the cleanest strategies in the event of a US default. "JPY longs against AUD and CAD and Gold calls are the cleanest ways to hedge against a US default." says Pingle. He further suggests that Gold could fare well across all levels of uncertainty and potential default scenarios. "We see Gold doing well through all levels of uncertainty and default." he adds. In essence, these projections underscore the importance of being prepared for a range of outcomes, as the implications of the current debt ceiling impasse could be far-reaching and diverse across the financial landscape. Debt Ceiling Conundrum: Economists at UBS Unveil Four Possible Scenarios Economists at UBS suggest that there are four potential scenarios that may unfold due to the current impasse over the US debt ceiling. The scenarios, laid out by Jonathan Pingle, Chief US Economist at UBS, range from the most optimistic - in which the debt ceiling is lifted with minor volatility - to the most pessimistic, where a month-long impasse creates significant economic strain. Scenario 1: The Debt Ceiling is Lifted Amid Market Noise The first scenario that Pingle describes involves the debt ceiling being raised ahead of any missed payments, causing some market turbulence but averting significant damage. This echoes previous political disagreements in 2011 and 2013, where market volatility was relatively short-lived, lasting no more than a few weeks. "The economic impact under this scenario depends almost entirely on the level and duration of disruption that increased uncertainty might create for financial markets." says Pingle. He adds, "We assume in this scenario that any financial volatility would be short-lived, lasting no more than a few weeks." Scenario 2: The Debt Ceiling is Breached but Debt Payments are Prioritised The second scenario involves the Treasury surpassing the so-called X-date but continuing to honour debt service payments. This could result in a significant retrenchment in federal spending as revenues cover only around 75% of non-interest expenditures. "In this scenario, the Treasury goes past the X-date but debt service payments continue to be made." says Pingle. However, he warns that this scenario could have a more detrimental effect on the economy. "The economic outlook is a little weaker... The Federal Reserve likely sees profound institutional risk being thrust into this political fight over fiscal policy." he adds. Scenario 3: Principal and Interest Payments are Delayed after Breaching the X-date The third scenario Pingle presents assumes that the US misses interest payments by more than a three-day grace period, leading to a formal default and probable downgrades. "In this scenario, interest payments are missed and we've assumed by more than the 3- day grace period (i.e. a week) so that we can model a formal default and downgrades that would likely come with that default." says the analyst. He continues, "In this scenario the US faces more serious downgrade risk, CDS default triggers, and downgrades to the GSEs." This, according to Pingle, could potentially lead to immediate consequences for the global financial system, given the USD and US Treasury Securities' status as the world's main reserve currency and 'safe' asset, respectively. Scenario 4: A Prolonged, Month-long Standoff The final scenario, which Pingle describes as highly unlikely, would see a month-long impasse in the US political system over the debt ceiling issue. This scenario, according to the analyst, could have the most significant impact on the economy, potentially doubling the severity of the recession in the US and leading to an estimated job loss of around 700,000. "We give such an outcome very low odds... In this scenario, we could debate the path, but a large negative shock to growth at the current juncture we would argue sends the target range for the federal funds rate back to the zero lower bound." says Pingle. "Depending on the speed of the market moves and if things become disorderly, we would expect the FOMC to 50 bp rate cuts in the next two meetings to see if that helped mitigate market disruption." he adds.
Long
by thunderpips
1
NIO breakout from descending wedge NIO is shown on a 4H chart. It has been downtrending for 3 months. Howver, April and May has high relative volume trying to reach the capitulation of a bottom. Thursday May 4th marked a near term bottom. NIO is now rising and breaking out of a falling wedge drawn onto the chart. It has crossed over the POC line of the volume profile ( This is the price level of the highest volume of trading). Price is impending a mean anchored VWAP. Relative strength has spiked. With this confluence of bullish signals, I have taken a long position which has appreciated 4.6% in the first half of the trading day having opened the position in the pre- market. I will now take a trade of call options striking $ 7.00 DTE 7/21. The rising dollar strength has confounded TSLA's sales in China and the Nordic countries. NIO is on the ready to pick up the slack.
NYSE:NIOLong
by AwesomeAvani
DOLLAR INDEX - FUNDAMENTAL ANALYSISEconomists at UBS, led by Chief US Economist Jonathan Pingle, have also explored potential market reactions to a breach of the X-date. Notably, the US Dollar (USD), Japanese Yen (JPY), and Gold emerge as key assets that could be significantly influenced. In most scenarios, Pingle anticipates a softening of the US Dollar amidst rising uncertainty. Interestingly, the only scenario where the US Dollar might rally strongly would involve a month-long impasse after the X-date. This extended deadlock could cause a significant tightening of financing conditions, boosting the USD in the process. "Only a 1m long impasse post the X-date is likely to cause a tightening of financing conditions sharp enough that it causes the dollar to rally strongly." says Pingle. In contrast, he suggests the worst-case scenario for the dollar arises if the X-date is crossed without any default. The fear of de-dollarisation, the process where the dominance of USD in the global financial system is gradually reduced, becomes a tangible threat in this case. "The worst case for the dollar is if the X-date is crossed without default; de-dollarisation becomes a real threat in this case." he adds. Pingle believes that, from a risk hedging perspective, long positions in Japanese Yen against currencies such as the Australian Dollar (AUD) and Canadian Dollar (CAD) as well as calls on Gold might be the cleanest strategies in the event of a US default. "JPY longs against AUD and CAD and Gold calls are the cleanest ways to hedge against a US default." says Pingle. He further suggests that Gold could fare well across all levels of uncertainty and potential default scenarios. "We see Gold doing well through all levels of uncertainty and default." he adds. In essence, these projections underscore the importance of being prepared for a range of outcomes, as the implications of the current debt ceiling impasse could be far-reaching and diverse across the financial landscape. Debt Ceiling Conundrum: Economists at UBS Unveil Four Possible Scenarios Economists at UBS suggest that there are four potential scenarios that may unfold due to the current impasse over the US debt ceiling. The scenarios, laid out by Jonathan Pingle, Chief US Economist at UBS, range from the most optimistic - in which the debt ceiling is lifted with minor volatility - to the most pessimistic, where a month-long impasse creates significant economic strain. Scenario 1: The Debt Ceiling is Lifted Amid Market Noise The first scenario that Pingle describes involves the debt ceiling being raised ahead of any missed payments, causing some market turbulence but averting significant damage. This echoes previous political disagreements in 2011 and 2013, where market volatility was relatively short-lived, lasting no more than a few weeks. "The economic impact under this scenario depends almost entirely on the level and duration of disruption that increased uncertainty might create for financial markets." says Pingle. He adds, "We assume in this scenario that any financial volatility would be short-lived, lasting no more than a few weeks." Scenario 2: The Debt Ceiling is Breached but Debt Payments are Prioritised The second scenario involves the Treasury surpassing the so-called X-date but continuing to honour debt service payments. This could result in a significant retrenchment in federal spending as revenues cover only around 75% of non-interest expenditures. "In this scenario, the Treasury goes past the X-date but debt service payments continue to be made." says Pingle. However, he warns that this scenario could have a more detrimental effect on the economy. "The economic outlook is a little weaker... The Federal Reserve likely sees profound institutional risk being thrust into this political fight over fiscal policy." he adds. Scenario 3: Principal and Interest Payments are Delayed after Breaching the X-date The third scenario Pingle presents assumes that the US misses interest payments by more than a three-day grace period, leading to a formal default and probable downgrades. "In this scenario, interest payments are missed and we've assumed by more than the 3- day grace period (i.e. a week) so that we can model a formal default and downgrades that would likely come with that default." says the analyst. He continues, "In this scenario the US faces more serious downgrade risk, CDS default triggers, and downgrades to the GSEs." This, according to Pingle, could potentially lead to immediate consequences for the global financial system, given the USD and US Treasury Securities' status as the world's main reserve currency and 'safe' asset, respectively. Scenario 4: A Prolonged, Month-long Standoff The final scenario, which Pingle describes as highly unlikely, would see a month-long impasse in the US political system over the debt ceiling issue. This scenario, according to the analyst, could have the most significant impact on the economy, potentially doubling the severity of the recession in the US and leading to an estimated job loss of around 700,000. "We give such an outcome very low odds... In this scenario, we could debate the path, but a large negative shock to growth at the current juncture we would argue sends the target range for the federal funds rate back to the zero lower bound." says Pingle. "Depending on the speed of the market moves and if things become disorderly, we would expect the FOMC to 50 bp rate cuts in the next two meetings to see if that helped mitigate market disruption." he adds.
TVC:DXYShort
by thunderpips
2
EUR USD - FUNDAMENTAL ANALYSISEconomists at UBS, led by Chief US Economist Jonathan Pingle, have also explored potential market reactions to a breach of the X-date. Notably, the US Dollar (USD), Japanese Yen (JPY), and Gold emerge as key assets that could be significantly influenced. In most scenarios, Pingle anticipates a softening of the US Dollar amidst rising uncertainty. Interestingly, the only scenario where the US Dollar might rally strongly would involve a month-long impasse after the X-date. This extended deadlock could cause a significant tightening of financing conditions, boosting the USD in the process. "Only a 1m long impasse post the X-date is likely to cause a tightening of financing conditions sharp enough that it causes the dollar to rally strongly." says Pingle. In contrast, he suggests the worst-case scenario for the dollar arises if the X-date is crossed without any default. The fear of de-dollarisation, the process where the dominance of USD in the global financial system is gradually reduced, becomes a tangible threat in this case. "The worst case for the dollar is if the X-date is crossed without default; de-dollarisation becomes a real threat in this case." he adds. Pingle believes that, from a risk hedging perspective, long positions in Japanese Yen against currencies such as the Australian Dollar (AUD) and Canadian Dollar (CAD) as well as calls on Gold might be the cleanest strategies in the event of a US default. "JPY longs against AUD and CAD and Gold calls are the cleanest ways to hedge against a US default." says Pingle. He further suggests that Gold could fare well across all levels of uncertainty and potential default scenarios. "We see Gold doing well through all levels of uncertainty and default." he adds. In essence, these projections underscore the importance of being prepared for a range of outcomes, as the implications of the current debt ceiling impasse could be far-reaching and diverse across the financial landscape. Debt Ceiling Conundrum: Economists at UBS Unveil Four Possible Scenarios Economists at UBS suggest that there are four potential scenarios that may unfold due to the current impasse over the US debt ceiling. The scenarios, laid out by Jonathan Pingle, Chief US Economist at UBS, range from the most optimistic - in which the debt ceiling is lifted with minor volatility - to the most pessimistic, where a month-long impasse creates significant economic strain. Scenario 1: The Debt Ceiling is Lifted Amid Market Noise The first scenario that Pingle describes involves the debt ceiling being raised ahead of any missed payments, causing some market turbulence but averting significant damage. This echoes previous political disagreements in 2011 and 2013, where market volatility was relatively short-lived, lasting no more than a few weeks. "The economic impact under this scenario depends almost entirely on the level and duration of disruption that increased uncertainty might create for financial markets." says Pingle. He adds, "We assume in this scenario that any financial volatility would be short-lived, lasting no more than a few weeks." Scenario 2: The Debt Ceiling is Breached but Debt Payments are Prioritised The second scenario involves the Treasury surpassing the so-called X-date but continuing to honour debt service payments. This could result in a significant retrenchment in federal spending as revenues cover only around 75% of non-interest expenditures. "In this scenario, the Treasury goes past the X-date but debt service payments continue to be made." says Pingle. However, he warns that this scenario could have a more detrimental effect on the economy. "The economic outlook is a little weaker... The Federal Reserve likely sees profound institutional risk being thrust into this political fight over fiscal policy." he adds. Scenario 3: Principal and Interest Payments are Delayed after Breaching the X-date The third scenario Pingle presents assumes that the US misses interest payments by more than a three-day grace period, leading to a formal default and probable downgrades. "In this scenario, interest payments are missed and we've assumed by more than the 3- day grace period (i.e. a week) so that we can model a formal default and downgrades that would likely come with that default." says the analyst. He continues, "In this scenario the US faces more serious downgrade risk, CDS default triggers, and downgrades to the GSEs." This, according to Pingle, could potentially lead to immediate consequences for the global financial system, given the USD and US Treasury Securities' status as the world's main reserve currency and 'safe' asset, respectively. Scenario 4: A Prolonged, Month-long Standoff The final scenario, which Pingle describes as highly unlikely, would see a month-long impasse in the US political system over the debt ceiling issue. This scenario, according to the analyst, could have the most significant impact on the economy, potentially doubling the severity of the recession in the US and leading to an estimated job loss of around 700,000. "We give such an outcome very low odds... In this scenario, we could debate the path, but a large negative shock to growth at the current juncture we would argue sends the target range for the federal funds rate back to the zero lower bound." says Pingle. "Depending on the speed of the market moves and if things become disorderly, we would expect the FOMC to 50 bp rate cuts in the next two meetings to see if that helped mitigate market disruption." he adds.
Long
by thunderpips
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Going with --> Gut Feeling/Spider Instinct🕷️/Sixth Sense The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647 Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level : 1.08739 I think it's reasonable to see some selling pressure to start off the trading for this week. Or may we at least anticipate a double bottom sort of structure and retest of our 1hr Zone 1.07802
Short
by ShrewdCatfx
3
Dollar Index Chart Analysis.... In this situation, DXY chart creates Elliott wave pattern. So,if 103.600 resistance level need to sell confirmation then DXY will fall 102.700 & 102.200 support level. If the breakout is 103.800 level then case is invalid. AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals. If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad.
TVC:DXYShort
by AronnoFx
EUR USD - FUNDAMENTAL ANALYSISEconomists at Barclays Bank suggest a complex forecast for the US dollar, considering factors like the potential resolution of the US debt ceiling issue, unexpected softening of Chinese data, and the strength in recent US data. US Dollar Rally and Exchange Rate Forecast Barclay's analysts note the recent rally of the US dollar amid potential resolution of the country's debt ceiling situation, leading to rising equities and yields. "The dollar rallied amid headlines of a potential resolution in the debt ceiling situation, with equities and yields rising in tandem," says Themistoklis Fiotakis, Head of FX Research at Barclays. However, he indicates uncertainty about the future of this rally, stating that, "Whether the dollar rally extends from here depends on the texture of an agreement. Republicans want big spending cuts and larger-than-projected concessions could imply lower yield support for the USD down the road." Fiotakis further discusses the potential impact of the debt ceiling negotiations on the US dollar, explaining that an impasse could lead to market unease as the deadline for a resolution approaches. He observes, "The closer we get to the x-date with no signs of a resolution, market jitters might propel both sides towards a short-term extension or a kicking the can down the road scenario." On a different note, he also refers to the possibility of the dollar rally offering an opportunity for entering into short positions, suggesting, "The dollar rally could ultimately offer an entry point into short positions. The strength in recent data (jobless claims most recently) may mean that waiting until a potential Fed hike in June is nearly fully priced." Chinese Data and USD Outlook The Barclays analyst shifts the conversation to an unexpected element affecting the dollar's outlook: the softening of Chinese data. He explains how this reversal affects one of the pillars that was supporting the dollar sell-off. "The main worry is that more data weakness may be required before Chinese authorities ease policies again," says Fiotakis. "Specifically, the conspicuous and unexpected deceleration in Chinese data has reversed one of the three big pillars of the dollar sell-off along with natural gas and peak Fed)", he adds. The analyst also touches on the potential room for further upside in EURONEXT:CNY and the volatility in EM FX. He states, "For CNY there is some, albeit limited, room for further material upside in $CNY. Where things can remain a bit more volatile is high carry EM FX, where positioning is quite elevated."
Long
by thunderpips
4
Gold and the Dollar IndexGold and the Dollar Index have been mirror images of each other over the last year and a half or so. Near perfect negative correlation, with no signs of divergence from this. I'm expecting this will remain true for some time, creating an educated assumption that we can expect a near equal and opposite reaction from each other, and both are at major decision points: Gold is facing strong resistance to moving towards a new ATH and hasn't yet reacted. DXY is also facing resistance towards a stronger move up. One of these will do it, the other will likely not. For more context, confluence, and further details - follow my links below under the "Related Ideas" section.
OANDA:XAUUSD
by dudebruhwhoa