Simple 12H analysis on the USD Weighted Index (not DXY)
Seems as though we are creating a 1-5 elliott wave, and reacting strongly to the drawn trendline.
I expect the market to form the final wave, completing the elliott pattern, and for the impulse to be exact same size as the first wave, which will then bring us to the marked zone, which is a very key weekly...
Dollar will go down/weaker. I think this because it can't go up as it already went up to the normal high of the dollar and it was already on the top so it will probably will go down... also I just want to try a dollar trade.
usd/gbp seems to create a divergences as well has creating LH's and LL's on the 4hr timeframe.
Waiting for price to create another LH so I can enter short at that moment. The reason I've placed my trade there is because 50 ma holds that level very well so I am hoping that price reaches 50 ma and drops.
I am looking that GBPUSD is on a strong downtrend but it is trying to re-test the highs of the channel. It is making a nice rebound from the lower part of the Bollinger band so if it breaks the channel, we may see a long uptrend.
Let's see, I am adding a SHORT if it fails to break the channel but most likely scenario will be it will go up.
The Fibonacci levels show the depth of the price. It's possible that the dollar can grow. But this is not a reliable idea but a good input if you take a short stop loss. I increased it and I risk it ..
Compare investing in a S&P 500 ETF, for an investor based in GBP currency. With dividends reinvested.
vs S&P500 ETF tracked in USD
vs FTSE100 ETF tracked in GBP
For comparison, how much returns are due to underlying vs currency effects.
The US dollar is under the thumb of the president who got a handful of nothing during his visit to China. It’s interesting that yesterday Trump did not blame China for the trade balance deficit, but today he told the US ‘can no longer tolerate these chronic trade abuses’. Bad night, probably.
As it turned out, the Senate version of the bill differs a lot from the...