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Macro Charts
@MacroCharts
25 years in markets. Combine technical charts and proprietary models. Portfolio & Fund Manager. Strategic Advisor to Global Funds and Family Offices.
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Aug 5, 2019
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9 tweets
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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.