Please comment and let me know your thoughts.
Always enjoy discussing these things.
The dollar is suffering from the trade deal uncertainties.
The tariffs are a big part of that, but it is the fact that nations are speaking out saying they may reconsider their deals due to Trump's tariff posts after Friday's SCOTUS decision.
Bulls want to see the cluster of moving averages in the orange circle act as support (10, 20, 50 sma's).
- Bulls are still in control on the Daily chart.
Bears want the opposite. A close below 97.50 would be a negative gamma flip.
*My Bias - I am currently holding long call options (UUP $28, 06/18 exp) I think this is a great contrarian play seeing as how so little people expect dollar strength. Plus, the last month has shown that equity selloffs started leading to dollar strength. However, we didn't see that so much this morning. Most of the strength went into bonds, driving rates lower.
Always enjoy discussing these things.
The dollar is suffering from the trade deal uncertainties.
The tariffs are a big part of that, but it is the fact that nations are speaking out saying they may reconsider their deals due to Trump's tariff posts after Friday's SCOTUS decision.
Bulls want to see the cluster of moving averages in the orange circle act as support (10, 20, 50 sma's).
- Bulls are still in control on the Daily chart.
Bears want the opposite. A close below 97.50 would be a negative gamma flip.
*My Bias - I am currently holding long call options (UUP $28, 06/18 exp) I think this is a great contrarian play seeing as how so little people expect dollar strength. Plus, the last month has shown that equity selloffs started leading to dollar strength. However, we didn't see that so much this morning. Most of the strength went into bonds, driving rates lower.
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