Hello Traders ,
Sell setup on the DXY :
Macro Reasons :
Inflation is runing hot 5.4% yoy.
Negative real yield on US Treasuries: (-1.65%) on 5 years T-Note.
Taper base case for Goldman : is 45 % chance the FED will taper on November 2021, by $15bln per meeting speed of tapering , which is split $10bln in USTs and $5bln in MBS.
Fed will keep low rate for longer.
Covid Variants are spreading and forcing lockdown , in NewZeeland and Australia.
Technical Reasons :
DXY has broken the top of a " Expanding flat formation " making new high for 2021 and reaching 2020 level, with bearish divergence on "MACD".
- - - -
With this being said : long trade setup will play on the reflation currencies : NZD, CAD, AUD
Commodities like OIL : BRENT and WTI Crude are expected to gain momentum for upside.
Sell setup on the DXY :
Macro Reasons :
Inflation is runing hot 5.4% yoy.
Negative real yield on US Treasuries: (-1.65%) on 5 years T-Note.
Taper base case for Goldman : is 45 % chance the FED will taper on November 2021, by $15bln per meeting speed of tapering , which is split $10bln in USTs and $5bln in MBS.
Fed will keep low rate for longer.
Covid Variants are spreading and forcing lockdown , in NewZeeland and Australia.
Technical Reasons :
DXY has broken the top of a " Expanding flat formation " making new high for 2021 and reaching 2020 level, with bearish divergence on "MACD".
- - - -
With this being said : long trade setup will play on the reflation currencies : NZD, CAD, AUD
Commodities like OIL : BRENT and WTI Crude are expected to gain momentum for upside.
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