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Topic: This week 7/23/2019 (Read 390 times) previous topic - next topic

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This week 7/23/2019
I will be away most of the rest of the week and weekend.
With the DXY in rally mode and the GSR hitting support, Be aware that a pullback in the over-bought miners is likely.
Trade Safe! Plan your trade, trade your plan.
Good Luck!
Ed
For Entertainment Purposes Only.

Re: This week 7/23/2019
Reply #1
There is a chance that the DXY will top out here at the level that the purple intersect. It could continue to the green line at 100.
For Entertainment Purposes Only.

Re: This week 7/23/2019
Reply #2
It is possible that dollar strength is more a reflection of the other currencies in the index going down faster than the dollar. This would be made possible by US interest rates being on average much higher than the interest rates in the countries represented in the index. This is classic race to the bottom. President Reagan once said to the effect, no country ever became strong by trashing its currency, but that is exactly what we are doing in the name of maintaining our exports.

The faux strength in the dollar is being reflected in PM weakness, but that will wane before too long. I look at this setback as an opportunity to add as nothing fundamental has changed. Another observation is that the fed has way too much influence over the economy and markets. Adjustments to the understanding of the fed press release during the press conference is tacit proof of that with the wild swings in virtually every market segment. The fed has used that influence to push the market to unsustainable levels, but if they do anything to unwind the past errors, a market tantrum follows and the fed cowers. What a sad state of affairs for the world power.