Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Is the dollar falling?

38 sec read


 

Chart shown here is the US dollar Weekly index chart. From the charts it is clearly witnessed that dollar may
test 200day MA and 20day EMA which meets at a common point. Possibly it would bounce back from the supports
and lead to surge in dollar to record high once again.
 
So what does a surge in dollar mean to us?
Possibly another round of global selling in the world markets. Also yen nearning the OCT,2008 lows 91 says that
global selling is on cards. And the recent surge in commodity prices especially in crude could be possibly a temporary one.
 
In other hand breakdown below 200day MA will lead to long term bearishness in dollar. Which will lead to
surge in commodity prices once again especially gold and Crude which showing enormous amount of strength for the past two
days
 
Here is a elliot wave interpretation and his view on dollar movement from Corey Rosenbloom author of afraidtotrade.com
 
http://blog.afraidtotrade.com/oddities-in-the-us-dollar-etf-uup/
 
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Gold to Hit All-Time High? How Small Investors can…

I know, in this Bitcoin era if someone is talking about Gold they could be either a 70s kid or an 80s kid. Well,...
Rajandran R
1 min read

Silver Momentum Pullback Trade Setup

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged...
Rajandran R
22 sec read

Is the Oil nearing the Bottom?

I woke up in the morning just to see the headlines "Oil Drops to 21-Year Low With Storage Filling as Demand Shrivels". Ever-since ...
Rajandran R
53 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More