Loading ...USD / UUP
Breakout to the upside with positive divergence, successful backtest on the daily chart.
Intermediate term, the dollar is close to a major breakout and MACD buy signal on the weekly chart, which – if it occurs, could serve as major headwind for PMS…
Precisely… Selling down all of my short term trade PM positions
Good work RTV….Dollar was due for a YCL….which looks like it has been seen….up for a few months at least.
“close to a major breakout and … could serve as major headwind for PMS…”
Yes. and Yes.
But my emphasis is on “Close”.
I’m not quite there yet. But close.
Yes.
My thoughts are that we could see 94.00 on DXY, but not a face-ripper. I’m more in agreement with the USD bears here but I’ll shift my investing towards whatever charts tell us, so I’m not sticking with a side. A lot of things that you mentioned (and failed to mention, I.E. no tax breaks, no healthcare reform, no infrastructure, falling stock market) can be equally viewed as dollar negative, or dollar neutral at best. Tough call for sure.
Trade wars are dollar negative too. And of course all those scenarios I mentioned above are US scenarios for anyone outside US that may be confused.
Good points Nick