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Macro Charts Profile picture
Macro Charts
@MacroCharts
25 years in markets. Combine technical charts and proprietary models. Portfolio & Fund Manager. Strategic Advisor to Global Funds and Family Offices.
Mike Shell Profile picture John Wyse Profile picture Lyle Pai Profile picture FantasyFortune Profile picture Doc AM Profile picture 10 subscribed
Aug 5, 2019 • 9 tweets • 5 min read
Thoughts on the Dollar:

$DXY formed a topping candle last week.

When global markets panicked in May (same concerns over hawkish Fed & Trade War), DXY barely moved.

Definitely doesn't help that $USDJPY and $USDCHF (combined 17.2% weight in DXY) are collapsing in risk-off. Thoughts on the Dollar (continued):

$DXY daily sentiment hit 94 last week, among the highest in three decades (top 99.30%).

The majority of extreme high readings (particularly since 2000) led to a Dollar top, with the exception of late 2014.