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Topic: DXY (Read 761 times) previous topic - next topic
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DXY

Gold often move opposite of the DXY Monday mornings are in blue.
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Re: DXY

Reply #1
DXY will confirm the Adam and Eve double top with a break of 100.45
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Re: DXY

Reply #2
DXY will confirm the Adam and Eve double top with a break of 100.45


I am showing 100.58 for DXY so the confirmation is at hand. It is interesting that DXY went down on the interest rate bump by the FED, I would have thought the dollar would be worth more if it commands more rent. Maybe it is just a delayed reaction or maybe more people are getting FED up with rent control. More than likely with recent FED jaw boning for more upward bias in rent control, there will be pressure on PM's, but it may not turn them down, only slow the rise.

Re: DXY

Reply #3
As the universal measuring tool for comparing value of many varied goods and services against each other, one would think stewards of the dollar would be vary concerned about its durability. The fact that DXY has wild swings is proof positive the stewards of the component currencies are doing poor job. That said, looking at the DXY chart is interesting as with its relative consistency over the last three months has correlated with the relative stability in precious metals. It looks like that is changing. It hit the top of the regression channel drawn from March highs and has turned down sharply. MACD and RSI are bearish and the value is approaching the lower BB soon to drag the indicator down with it. Support around 92.77 is now violated so the down channel should remain in tack. With the measuring tool losing value, we can expect PM's to move higher when priced in dollars, for that matter, we can expect everything to be priced higher and CPI, will move higher as a result.  Fed jawboning today should be interesting.


Re: DXY

Reply #4


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Re: DXY

Reply #5
my old dxy chart.

Re: DXY

Reply #6
Nothing moves in a straight line, but the DXY moving up this much is not what I expected. Will the 92+ resistance be a barrier?


Re: DXY

Reply #7
92.1 or 93.7 could be a top.
The bigger question is this a sign of a coming correction in the SM?

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Re: DXY

Reply #9
Maybe Dollar as measured by the flawed DXY is turning down, MACD has crossed bearish.


Re: DXY

Reply #10
93.44 is pretty close to 93.7 guessing from 91.46
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Re: DXY

Reply #12
DXY might be headed south again as it is back in the regression channel. Fundamentals are not supportive of dollar strength. MACD is getting weaker, moving averages will probably cross as 50 day low values fall from the calculation but it may be short lived.

 

Re: DXY

Reply #13
DXY continues to head south. Today is odd as dollar down as well as PM's being generally down; an example of Ed's comment about market moves not making sense. While DXY is flawed as it is a measure comparing the dollar against other fiat currencies, it does show the dirtiest shirt in the laundry. Dollar probably continues south at this point. JMO