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Dollar, Gold and the Euro - where to next? I just read an idea posted in Tradingview that this is the time to buy the EURO. As well there is a lot of chatter about Gold being a gift at these levels. This big move started this week. I believe its too soon to take a position in either one of them. This is not to say there won't be backtests as investors rush in. Looking at these daily charts gives you the perspective to see what's really going on. So to be clear - the value of the US dollar (DXY) affects the EURO and GOLD - as the both are based on the relative strength of the DXY. This move isn't over - clearly the breakout is happening fast, it maybe over this upcoming week. However, that does not mean it return immediately to previous levels. Expect some accumulation and distribution. A higher US Dollar slows down: inflation, and debt ridden non-US companies with US Dollar denominated debt, who now have larger financial obligations. One thing that is VERY interesting is clear that all three, DXY, GOLD, and the EURO are balancing inside their respective triangles, for a much bigger move. If you have the answer to that - its worth a fortune. Why is this happening? The Federal Reserve has now signaled that there are at least two rate hikes forthcoming. While in Europe there is none of this talk, ergo higher rates - stronger currency. Last year there were numerous well respected pundits claiming the dollar was about to soar (such as Keith McCullough of Hedgeye and Raoul Pal of Real Vision fame) Pal wrote on Twitter April 25th, 2020: 'You see the biggest problem the world faces is the dollar. We are in a viscous doom loop where slowing growth causes the dollar to rise' I can't believe he hasn't deleted this tweet. When in fact the absolute opposite happened. So tune out the noise and watch the charts for the 'Real Vision' ;) Expect the US Dollar to push through the what is an obvious trend line and bend it not break it approaching the round psychological number of 93. This is also close to 1.61 Fib at the top of the channel. The yellow triangle is where you might consider taking a long position in either the metals or pairs that verses the US dollar. Levels are indentified where both GOLD and the EURO may fall to. As a side note, the US Equites have rallied in part because of weakness in the US Dollar, which rallied at every drop in the dollar - they may have some catch up to do as the dollar is rising faster than SPX or NDX is dropping although the Russell and DOW seemed to be paying attention.
TVC:DXY
by Maximilianned
3
SI Short oppurtunity showing up on PTPPTP is past trend prediction that finds the same move in the past..... this is different than the below... I made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past Trend Prediction by tracing the trend it made after this move in the past and projecting it forward on to the current move. Then I took the same move on the Daily which is a different Time frame then the first..and found the same move with out a key and traced its path and projected it forward as well. Sometimes I use about 5 other Price Action tricks I have have developed over the last 10 months or chart out the Curve and what Stage it is in. The Curve is my own brain child and I compare that to Wycoff method. Taking all of these into account You have several different approaches to confirming direction and intent of the institutional buyers and where Retail resides during this move. If you would like to have more information or videos on Any of the ways I chart pls comment below. Like, follow, Subscribe...share. Thank you, iCantw84it 06.08.2021
SShort
by iCantw84it
weekly chart say : if high break break high mean trend break ,this mean new + trend will start so put buystop on high (wait 10 week) is good idea ,red arrow= target (save in your mind), most important target place =fibo 61% 35$(only here have 100% profit sellimit ) where is silver max target = pro fund,bank,broker target is 70$ (fibo 161% left fibo) can reach 70$ in next 8-12month so still we advice looking for buy in low,buystop on high only,dont pick sell signals note=if silver break last low 24$ mean down trend start,can go to 21$ stratgy break trend for silver and gold =d gold,silver are super trendy , so must try inter trend(never open reverse pos)raw weekly,daily.... clean ,important 15 min trend lines(not kanal) when silver price break it to upside ,dont fear inter buy(or buystop on 15min candel high) hold min 3 day sl=last clear low in 15min chart TP=min 3*SL if you practice you must eat 40 SL 60TP (frist day you can eat more,with practice you can change winrate good luck
FX:XAGUSDLong
by ramin_trader2006
1
main trend is + to 33$despite silver break trend but i predict it is fake down move and silver will go up,soon or late it must touch 33$ !!!! if silver break high can fly up ,if can break low can little go down (good for buy in low and hold it 7-8 day) green arrow = powerfull buylimit place you must put with sl=400 becouse trend is + looking for buy(buyer pressure will high) is true way ,dont allow 3-4 red candel force you sell against trend in comming week gold and silver will go up with zigzag , even if go down ,will back to up , but if you buy in deep ,100% put SL keep monitor AC accelator occilator and stochastic 5.3.3 in 60min and daily chart , on daily chart show + trend comming , when AC daily is green=looking for buy in 15min chart
FX:XAGUSDLong
by ramin_trader2006
1
BTC and Silver part 2: Similar structure, different time frame.On July 27, 2020, I published the post below, showing the similar structure in silver and bitcoin on the weekly chart. The similarity in structure suggested to me that Bitcoin would follow silver's price behavior. It did exactly that after breaking the 12k level, going vertical just like silver had after breaking the $19 level. I am not suggesting that silver is always a good leading indicator for bitcoin, or vice versa. But I would say on longer time-frames (starting in mid 2020), they've been telling a similar story.. Maybe it's just USD related, or just a function of risk-on assets going up together. What I know - seeing these two breakout similarly gives me more conviction in my long position for both assets. A friend of mine said, "what's the best F you to the system? Not Gamestop."
OANDA:XAGUSDLong
by Lanmar
8
Speculators’ net short U.S. dollar The move is in - easier to go long at this point than try to short the US Dollar or by proxy every other currency pair featuring the USD. At worse you know where to put your stops. After today's move away from the precipice the decades long trendline continues to hold. TVC:DXY The mainstream media in this case Reuters has been reporting this for months. This record short position is the fuel longs need to take the USD higher. If the US Dollar does move higher expect Silver and Gold to come off. For now if you're looking to go short - I would let the trendline break before entering. NEW YORK (Reuters) - Speculators’ net short U.S. dollar positioning soared to the highest since August 2011, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net short dollar position hit $24.27 billion in the week ended July 28, from net shorts of $18.81 billion the previous week. Reporting by Gertrude Chavez-Dreyfuss July 31, 2020 / 4:23 PM
TVC:DXYLong
by Maximilianned
SI! - Silver Futures is in for a rough rideSilver Futures dropped today as we all suspected it would. So what now? Is Silver having a difficult time getting to the next level on the fibonnaci scale? It went up there before in the grey area, but it flew too high too fast and after struggling to go any further, dropped back down. Silver has been making astronomical gains since its arrival and traders have been going nuts and butts over it. However, the Silver rush is now in shakey waters. It wants to go back down and take a breather. We have 3 working dates next week where Silver will make a decision. Continue the trek upwards, or kill it now and remain in a trading range to down for a while. According to my wedges, it looks like it wants to try to break the ceiling again. But around the 30 area is where SIlver has struggled to gain momentum. It seems like another wall for SIlver and perhaps its demise. But I see Silver making it over the line and sticking around for a while. Now as you noticed, the 19th is also featured here. Options contracts expire Aug 22. So people could be taking profits over the next week to lock in gains before something occurs. Silver might be included in this. Expect volatility, range, but an upward movement. If it makes it over, I'm taking profits and running. Who knows where silver will land if it tries to fly too close to the sun again...
COMEX:SI1!Long
by Harley_Drake