Discussion in 'Interactive Trading' started by SLT, Apr 24, 2014.
USDX - would not be surprised if the Dollar breaks last months high sooner or later
Can you define "sooner or later" Dan?
Lol, i'll take a stab in the dark, and say two weeks
Fair enough, so timing isn't a strong factor in your anticipated move. What is the basis for your view that the PMH is on borrowed time?
So, low inflation means no need to raise interest rates. No increase in interest rates means less demand for the dollar. Less demand for the dollar means nothing really drives its value higher or sustains any rise. Dollar slides again. Hmmm... could be a short ride for the bulls. But since just about any move in the USDX changes several other currencies, it will be good for the manipulators speculators. It is the off season after all, anyone can play.
Looking at the bigger picture, "if" the Dollar does find more support
Yep, that's bigger alright...
Actually on a weekly chart that's a whopping OTE Zone. Does the width you have drawn imply an estimate of timing based on fib of time or anything else or is it just designed to show the price, not the time? Are you familiar with Robert Miner's work on time for instance?
Here is an excerpt from brushTurkey (Clifford Bennett's newsletter) today:
My emphasis added:
Even though Clifford is an economist, I like the guy's thinking. He is refreshingly happy to be a maverick who does his own thinking and he regularly lampoons as mindless gibberish the outdated and disconnected ideas sprouted by his colleagues. I guess, like me, that makes him an inside outsider.
Anyway, I happen to agree with his analysis of the USD. Up for a while on the increasingly positive "surprises" in US data and then down in a gradual but significant way as US smart money goes overseas to make greater returns (and, oddly enough, to find greater safety).
Just remember that while it's fine, even helpful actually, to have an informed and reasoned view of fundamentals, you may invest on that basis but you cannot effectively trade on just the fundamentals.
Source: Colin Twiggs, Trading Diary, incrediblecharts.com, 31 July 2014
Interesting use of multiple stochastics for MTF cycle analysis.
[mod edit: fixed youtube link - Jack]
had a feeling those clean highs would be taken out! Boom
Looking at this, here is Elliottwaves forecast, entering an impulsive break to the upside, though i have to wonder if the liquidity pool is taken out before the Dollar rallies stronger again, could equities and the Dollar fall together?
here is my alternate view on the Green Back
If the major "1" high is broken, we could be in for some serious Dollar strength
which would put Fiber's forecast to Parity in play
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