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Topic: 86 DXY (Read 374 times) previous topic - next topic
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86 DXY

When DXY breaks 92 it will be 86'd

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Re: 86 DXY

Reply #1
DXY might be about to take another step toward the 86 target posted above. MACD is bear oriented, RSI not yet in oversold region, horizontal trade channel since August looks like it is failing, horizontal support at 92.1 being challenged a fourth time and BB's 20 day MA is heading south.


Re: 86 DXY

Reply #2

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Re: 86 DXY

Reply #3
And to go with DXY is this gem, 10 year yield bull cross (50 and 200 day MA's) has just occurred. I am not sure what to make of it since the Fed is the overwhelming bulk of the market purchase side.


Re: 86 DXY

Reply #4
This should have a huge impact on metals for the next few months
Clear breakdown



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Re: 86 DXY

Reply #5
Elevator going down.
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Re: 86 DXY

Reply #6
Looks like the elevator stopped at the 90th floor to let off (sellers)and pick up (buyers) a few passengers before heading down again. Below week support at about 90 and the 86th floor target becomes in play again.


Re: 86 DXY

Reply #7
A BO is not what we want ST for the SM or PM's.


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Re: 86 DXY

Reply #8
I agree with your post and the dollar breaking out being a head wind for PM's and SM, but I am not a big fan of DXY because it is comparing fiat currencies against each other so in effect it is a score card on who is ding the most printing or relative speed of currency destruction. Over short periods it is useful because so many people use it to assist decision making, but over the long haul, it is relatively useless. Looking at a long term DXY chart, the dollar has not really moved all that much, a range between 130 and 72 over some 35 years. Gold however has gone from around $400 to $2000. Longer term, gold shows the degree of destruction of all fiat currencies thus will move to reflect true inflation and true wealth represented by fiat currencies. There is always a time lag getting to true valuations via price discovery and given the degree of printing by virtually every central bank, we should be coming close to more realistic gold pricing in fiat terms.



Chart below is 1000 divided by gold priced in dollars

https://www.tradingview.com/chart/ygwgD6sL/

Re: 86 DXY

Reply #9
second chart for post above:



Re: 86 DXY

Reply #11
You are 100% correct. DXY is the same as it was in 1987.
Your point about gold is why CBs hate PMs. It exposes their criminal fraud.
Still not the signal I wanted.

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Re: 86 DXY

Reply #12
I like my trendlines to show best fit instead of exact high/lows. This is how the orange in the above chart looks like now and after adjusting the orange, (looks like a re-test)


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Re: 86 DXY

Reply #13
Retest successful. Look for PMs to continue weakness and for the SM to come down hard.
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Re: 86 DXY

Reply #14
Not good for metals


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