Dollar Smoke Out

The two day move in USD puts my near term trade plan directly in the toilet – short of it being a wash out / smoke out.

Fundamentally it’s near impossible for me to imagine a “strong dollar” – as the majority of my near term trade ideas where / are looking that way….but the move needs to be respected.

As completely “bizarro” as currency markets have been as of late – I too had been framing some pretty nutty trade ideas, the least of which being a scenario where we’d see both equities and the USD fall together in a “risk off”  /hands off America” move. This idea is still not out of the question, but considering the big move up in USD and corresponding move down in equities  - I’d have to consider the simple USD up = Equities down may be back in play.

It will take at least a couple more days to see if the move in USD holds / suggests further upside – so as it stands..I’m hands off until then.

I’m still inclined to believe USD will continue lower – but has most certainly bought itself a bit of leg room over these past two days.

Wow……dolla smoke out.

2 Responses to “Dollar Smoke Out”

  1. still long the USD! And now short the euro, though via EUO.

  2. Market moves to frustrate the maximum amount of people. The dollar probably has a ton of short positions so the squeeze is on.

Comments are closed.
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Dollar Smoke Out

The two day move in USD puts my near term trade plan directly in the toilet – short of it being a wash out / smoke out.

Fundamentally it’s near impossible for me to imagine a “strong dollar” – as the majority of my near term trade ideas where / are looking that way….but the move needs to be respected.

As completely “bizarro” as currency markets have been as of late – I too had been framing some pretty nutty trade ideas, the least of which being a scenario where we’d see both equities and the USD fall together in a “risk off”  /hands off America” move. This idea is still not out of the question, but considering the big move up in USD and corresponding move down in equities  - I’d have to consider the simple USD up = Equities down may be back in play.

It will take at least a couple more days to see if the move in USD holds / suggests further upside – so as it stands..I’m hands off until then.

I’m still inclined to believe USD will continue lower – but has most certainly bought itself a bit of leg room over these past two days.

Wow……dolla smoke out.

2 Responses to “Dollar Smoke Out”

  1. still long the USD! And now short the euro, though via EUO.

  2. Market moves to frustrate the maximum amount of people. The dollar probably has a ton of short positions so the squeeze is on.

Comments are closed.