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Topic: DXY (Read 1316 times) previous topic - next topic

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  • ken
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  • Global Moderator
Re: DXY
Reply #75
May have a pop up here!

  • CLARKBAR
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Re: DXY
Reply #76
Kenneth, thanks much for the chart graphix.. with regard to PM's you really don't need a lot of explanation for today's actions after looking at what you put forth, here~!  Again.. high marks.. clarity and timeliness~!

  • edthelorax
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  • Administrator
Re: DXY
Reply #77
For Entertainment Purposes Only.

  • ken
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  • Global Moderator
Re: DXY
Reply #78

I wonder if this bad boy will exceed the level you have Ed. With all the love and pink unicorns between the 2 Korean leaders last night, this may keep going to the 92. 9 level???

  • edthelorax
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  • Administrator
Re: DXY
Reply #79
For Entertainment Purposes Only.

Re: DXY
Reply #80
Remember that DXY is comparing the dollar against six other fiat currencies that are also racing to zero value. Euro is about 57% and it is certainly losing value with current European central bank policies. I believe a better way to look at currencies is to price them in a commodity like silver, oil, lumber, or the price of a first class postage stamp. Doing that all the currencies in the DXY basket are declining. I suppose another way to look at it is the dollar is the least dirty shirt in the laundry for the moment. Link is to an interesting article on the subject of fiat currencies going to zero value:

https://goldswitzerland.com/gold-75-million-bolivars-will-happen-in-us-and-euro-too/

Dollar stronger, PM's up, oil is strong, the two Korea's are having a love fest Macron and Trump having a lovey dovey and Trump is shaking Merkle's hand, Trump is talking tough to Iran, and the first state dinner hosted by Trump's had fake jambalaya to go along with fake news and all the while, of little notice the first reading on GDP was up a whopping 2.3%. An interesting week!

Have a great weekend everybody.

  • edthelorax
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  • Administrator
Re: DXY
Reply #81
DXY looks dreadfully strong.
For Entertainment Purposes Only.

  • edthelorax
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  • Administrator
Re: DXY
Reply #82
Fed leaves rates unchanged.
For Entertainment Purposes Only.

Re: DXY
Reply #83
DXY continues to gain apparent strength, but remember the comparison is against equally flawed fiat currencies, all heading south. That just makes the dollar the least dirty shirt in the laundry. The fact that PM's and PM stocks while down a bit, have not tanked is positive for the sector in my opinion. Commodities in general are doing well and WTI in particular is around $70. I doubt seriously that the dollars purchasing power is increasing and if it is, it is minimal and temporary. The link is to charts of dollar index currencies, not sure if it will print in the post as chart.


https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1



  • edthelorax
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  • Administrator
Re: DXY
Reply #84
Uh oh. more pain for metals.
For Entertainment Purposes Only.

  • sn00p
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Re: DXY
Reply #85
not my chart but worth looking at

Re: DXY
Reply #86
In support of Snoops chart in reply 85, I too think DXY is showing signs of cresting. The three short blue arrows point to highs forming a triple top and this formation is below recent highs (making lower highs argument).  MACD curves are near recent highs and the histogram is pinching for the last three weeks. RSI is in over bought territory and generally sloping down for May. I doubt the recent run up lasts much if any longer.



A week ago gold and silver plunged relatively speaking, but this occurred concurrent with a rise in the dollar and bump in interest rates. This leads me to think the recent moves are not the capitulation needed to kick off a spectacular secular run up in PM's. There may be more 'basing' before we get the capitulation. With many traders and investors expecting big moves up in PM's and PM stocks, volatility expectations are high which is reflected in options premiums. Writing them continues to provide decent returns.

  • ken
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  • Global Moderator
Re: DXY
Reply #87
I noticed the same thing. Next month should give us a move up in the PM's. With the elections and all the other crap as to politics, this may help in the months to come..

  • edthelorax
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  • Administrator
Re: DXY
Reply #88
For Entertainment Purposes Only.

  • sn00p
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Re: DXY
Reply #89
dxy ytd high