Currencies - UUP Bullish on the Dollar
Idea for UUP (S2):
- Fed moving rate hike expectations forward.
- August Jackson Hole meeting will see the Fed begin 'talking about tapering' (even though they have been tapering for a while), why wait until then? Smart money will move before then.
- Brazil hikes rates. EM's will first race to hike rates.
- Fed and ECB will have to move by EOY.
- Technical Double Bottom.
- Falling Wedge Reversal.
- While it is early to call for a bull market in the dollar, it is showing strength, and fundamentals are bullish.
Not a bad time to start a moderately bullish position.
GLHF
- DPT
- Fed moving rate hike expectations forward.
- August Jackson Hole meeting will see the Fed begin 'talking about tapering' (even though they have been tapering for a while), why wait until then? Smart money will move before then.
- Brazil hikes rates. EM's will first race to hike rates.
- Fed and ECB will have to move by EOY.
- Technical Double Bottom.
- Falling Wedge Reversal.
- While it is early to call for a bull market in the dollar, it is showing strength, and fundamentals are bullish.
Not a bad time to start a moderately bullish position.
GLHF
- DPT
Trade active:
Long UUP 24C Sep 17 for 0.80 debit
Trade active:
Add UUP Long 25C Jan 21, 2022 for 0.43 debit
Trade active:
DXY holds 200 MA support
Comment:
DXY looks strong, contrary to popular belief, adding UUP:
Trade closed: target reached:
Now time for risk parity
