Like of us already noticed the DXY seems to remain very bullish
We're ranging in this channel & I'm expecting this to continue upward for quite a while longer!
As history has showed us clearly in the past a strong DXY uptrend has a devastating effect on just about everything else (as the dollar increases in value other asset prices plummet)
If the US wants to keep the dollar in the position of world reserve currency (which is near certain since they've lost a lot of supporter due to our current crisis & the massive QE'ing past months)
Just like we've seen before EXY is also simultaneously dropping so if you've got a lot of € sitting idle on a bank account I'd recommend converting it to USD (or even do what I did, 3x margin longing USDTEUR available on kraken exchange) preferably when DXY reaches the lower side of the channel.
This is a long term trade with very low risk while investing/trading any other asset right now definitely holds a much higher risk!
Through history we've seen similar cycles (DXY & EXY reversing cycle), these EXY tops always aligned with high TF peaks on all major assets.
My target for DXY is at least 110 which is still a pretty long way to go.
We're ranging in this channel & I'm expecting this to continue upward for quite a while longer!
As history has showed us clearly in the past a strong DXY uptrend has a devastating effect on just about everything else (as the dollar increases in value other asset prices plummet)
If the US wants to keep the dollar in the position of world reserve currency (which is near certain since they've lost a lot of supporter due to our current crisis & the massive QE'ing past months)
Just like we've seen before EXY is also simultaneously dropping so if you've got a lot of € sitting idle on a bank account I'd recommend converting it to USD (or even do what I did, 3x margin longing USDTEUR available on kraken exchange) preferably when DXY reaches the lower side of the channel.
This is a long term trade with very low risk while investing/trading any other asset right now definitely holds a much higher risk!
Through history we've seen similar cycles (DXY & EXY reversing cycle), these EXY tops always aligned with high TF peaks on all major assets.
My target for DXY is at least 110 which is still a pretty long way to go.