Posted by DigiNomad on 28th of Aug 2022 at 09:31 pm
DXY short? Sitting here strategizing about what I would do
if the dollar reversed hard and realized why it's not all that
likely. I mean, the A answer is pick another currency and sell
dollars to trade into that currency. Yeah, but which currency? The
yen? Ha! EU? Hahaha. The standard list is a who's who of
dysfunctional countries. It turns out that the US is basically the
best house in a really really bad neighborhood.
*Now that I've said that, the dollar will probably turn down.
UDN - looks like a decent way to get short DXY exposure.
Seeks to replicate the G10 currencies as a basket against USD. Not
shorting here, just building out my bag o tricks.
Posted by mitchell on 28th of Aug 2022 at 10:07 pm
Cautious shorting USD. While it appears overextended on ST
technicals, you are correct on fund flows...listened to interview
on fundamental reasons USD will likely go higher...same take away.
Weekly and monthly charts bullish as well w/ minimal
divergences.
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DXY short? Sitting here strategizing
Posted by DigiNomad on 28th of Aug 2022 at 09:31 pm
DXY short? Sitting here strategizing about what I would do if the dollar reversed hard and realized why it's not all that likely. I mean, the A answer is pick another currency and sell dollars to trade into that currency. Yeah, but which currency? The yen? Ha! EU? Hahaha. The standard list is a who's who of dysfunctional countries. It turns out that the US is basically the best house in a really really bad neighborhood.
*Now that I've said that, the dollar will probably turn down.
UDN - looks like a decent way to get short DXY exposure. Seeks to replicate the G10 currencies as a basket against USD. Not shorting here, just building out my bag o tricks.
Cautious shorting USD. While it
Posted by mitchell on 28th of Aug 2022 at 10:07 pm
Cautious shorting USD. While it appears overextended on ST technicals, you are correct on fund flows...listened to interview on fundamental reasons USD will likely go higher...same take away. Weekly and monthly charts bullish as well w/ minimal divergences.