It's time to take a look at the DXY chart. It's been already 3 months after the last update on this index. You can check out what I was talking about at that moment, and we can see how the setup played out perfectly, if you have had any swing-positional trades on EUR/USD or GBP/USD, Congratz! I made enough tricky moves with exchanging money from EUR to USD and trading currency pairs also. Currenty, the falldown of DXY is ongoing, the DXY fell to the minimum level of 2022 in March. Ray Dalio recently published an article where he talks about the USA is in the latest stages of one of the biggest economy cycles, and unsustainable debt can lead to printing money process that can cause the deeper fall of USD. So in my opinion, it's still not the end, and we have still a lot of space for deep fall and I think we can even reach 90 points in near months. Thus, playing with long positions on EUR and GBP still makes sense, EUR/USD is already on 1.19 level. Also, taking into account different data on Bloomberg, most US traders keep betting on deeper selloff, and betting against a weaker dollar hits record premium. On top of that, the dollar's drop has been exacerbated by rumors the US government might be willing to team up with Japanese monetary policy in order to put a floor under the slumping yen. So it's not surpising why XAUUSD is hitting new all time high because traders and investors tend to allocate their funds to defensive assets and stocks in such market conditions due to high pressure on dollar.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.