Mighty dollar - time to squeeze the remaining shorts?
This article is so good
it's for premium members only.
Does that sound like you?
Already a member? Sign in.
PREMIUM
ONLY $30/MONTH
BILLED ANNUALLY OR $35 MONTHLY
All BASIC features, plus:
- Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
- Access to our Private X Account, The Market Ear analysis, and Newsquawk
- Ad-Free Experience: Enjoy an uninterrupted browsing experience.
PROFESSIONAL
ONLY $125/MONTH
BILLED ANNUALLY OR $150 MONTHLY
All PREMIUM features, plus:
- Research Catalog: Access to our constantly updated research database, via a private Dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
Dollar made that huge move post FOMC, reached overbought levels, took a needed pause, but refused moving much lower over past sessions, and is once again moving higher.
Let's see how this closes, but the DXY is currently putting in the biggest positive candle since the FOMC "panic".
We are above the 200 day moving average, but it still is not positively sloping (that takes time).
92.4/92.5 is the first huge resistance to watch as this is the upper part of the range and the negative trend line since last autumn.Imagine the pain the remaining shorts would experience should we start pushing the upper part of the range...and the shorts aren't few...
Let's see how this closes, but the DXY is currently putting in the biggest positive candle since the FOMC "panic".
We are above the 200 day moving average, but it still is not positively sloping (that takes time).
92.4/92.5 is the first huge resistance to watch as this is the upper part of the range and the negative trend line since last autumn.Imagine the pain the remaining shorts would experience should we start pushing the upper part of the range...and the shorts aren't few...