Loading ...THE ONLY CHART
IF you only could have ONE Chart to watch ( because the cretins made it illegal to have more)
This is THE One…Everything derives from the ONE
Is this a Double Bottom ? OR a Half Way Down Pattern ? aka Head and shoulders ( 2 right shoulders)
Odds Favor DOWN
The cleanest dirty shirt in the laundry basket?
DXY comprises:
1. 58% Euro (how is Europe going? Germany is de-industrializing!)
2. 14% Yen (check out the yen chart)
3. 12% GBP (the Brits are a basket case economy)
Last week I did post on USD. USD is now above WEMA(30) @ 103.45. USD needs to close this week above it and the ‘odds are for USD to have a RALLY.
https://goldtadise.com/?p=581156
Timeframes?
S/T up
IT down
LT up
Saw this a short while after I posted. LOL
https://twitter.com/GregaHorvatFX/status/1660999601359577089
Up to B s/t.
Down to C IT.
Ending ABC correction so much higher LT.
“Probably the LEAST important chart.” Right.
Not that I didn’t already have a good idea, but this tells me all I need to confirm.
The only chart that might be MORE important than DXY is the long term Treasury yield, which ultimately drives DXY.
“The only chart that might be MORE important than DXY is the long term Treasury yield, which ultimately drives DXY.” Exactly, should have made that the only important point. Everything else is noise.
Yes, if you are day trading futures contracts you will pay attention to direction and magnitude to time your entries and exists, otherwise who cares what DXY does? Probably the LEAST important chart. As pointed out above it is just a ratio of four fiat currencies(84%) dollar vs others, all fiat and all just noise in the grand scheme of things.
Yes it is Bullshit meaured agains horseshit
BUT Every Commodity on the planet moves base on what the DX is doing
For No apparent treason other than they are priced in USD …so far
“For no apparent treason other than they are priced in USD”
The reason is that the world grows off expanding dollar debt.
It implodes if the dollar money supply contracts. Which it tends to do when its price goes up.
DXY tells you whether the dollar credit bubble is blowing bigger or not.
So long as it stays above 100 it points higher. I can’t be bearish the buck.