EUR / USD Forum & Chats (IBKR:EURUSD)

3 minutes ago

1.1175 (eu1.92b), 1.1100 (eu600.4m), 1.1300 (eu543.7m)
expiring tomorrow!

7 minutes ago

so why am I still bullish dxy...?
well, I'll admit it's a gamble. Probably not the best swing trade but it's still my current analysis.
Today was an interesting day. I'm not great on macros but I'll give it a shot. I welcome any comments and appreciate those who don't take my smart ass comments to heart.
Stocks were down and yields were up. Risk off. Flight to gold and bitcoin "safe". Bonds selling off from the stupid moodys downgrade, which is really no suprise to big money. Uncertainty in the big beautiful tax bill which could pass through the house soon, maybe tonight or this week. It's a slim margin for this bill in both house and senate. But, I believe it will get passed. It will be messy and full of kick backs or strong arm deals but I think it'll get done. If it passes the house some uncertainty will go away while we wait and see what the senate does. Some may say the bill just adds to the deficit which is true but the US is a debt economy, I think that that means it's all good until it blows up and we all starve.
Higher yield "should" attract foreign investment requiring dollars. Fedwatch keeps leaning strong on fewer and fewer rate cuts. Technically, I see a retest of the 200ema weekly dxy. Also some previous support turned possible resistance all between 102 and 104. One man's bull run is another man's retrace. 1.135/1.137 is a good level to retest is you're bearish coming off the latest swing high of 1.15 or so. In the end, I'm maintaining my bullish dxy sentiment and I'm currently in draw down. A wiser man would trade a high quality set up in more certain times. The dollar may still collapse or trade lower to test prior lows like Robert said. This is just my current position. I'm for ALL retail traders to win!