Dollar Trend Opens Up New Positions

Published on
4 May, 2017
Topic
Technical Analysis, Trading
Duration
15 minutes
Asset class
Equities, Currencies

Dollar Trend Opens Up New Positions

Featuring Dave Floyd

Dave Floyd returns with the May update from Aspen Trading and after his forecasts played out pretty well last month, Dave is looking for a resumption higher in the dollar index, albeit in choppy markets and with one more likely move lower. That opens the door to some quick trading positions, which Dave explains, alongside an update on his bearish view on GM. Filmed on May 2, 2017.

Published on
4 May, 2017
Topic
Technical Analysis, Trading
Duration
15 minutes
Asset class
Equities, Currencies
Rating
12
Sharing

Comments

  • DF

    Dave F.

    18 5 2017 21:36

    0       0

    Thanks Ian and Raj,

    As we all know by now the dollar Index (DXC) has finally tipped its hand - it is going lower and likely will for a sustained period.

    For the record - I did not have any USD positions into the move lower. I wanted to see a 'confirmed break' higher or lower....which we now have.

    The move lower in Brazil is troubling and adds a whole other dynamic as to how emerging markets play out.

    So many moving pieces, yet still so few clear answers for trades that don't require a lot of patience and/or nimbleness.

  • PS

    PD S.

    17 5 2017 00:42

    0       0

    great vid as always from dave floyd! :)

  • RR

    Raj R.

    7 5 2017 22:16

    0       0

    Strengthen the dollar I mean.

  • RR

    Raj R.

    7 5 2017 22:15

    0       0

    Dave, I am wondering if you have any thoughts on dollar index's impact on emerging markets. EEM has rallied since election night. With commodities weakening, Could funds pull out of EEM and strengthen

  • IV

    Ian V.

    5 5 2017 21:48

    0       0

    Hi Dave - thanks very much for the generosity in sharing your perspectives and outlooks. Have been wanting to get short EUR/USD but also apprehensive. Just curious, does the EUR COT net spec. positioning becoming more balanced and much less short tell us anything or affect your thinking either way on EUR/USD? Probably not but thought I'd inquire.

  • DF

    Dave F.

    5 5 2017 14:07

    0       0

    Thanks Ewan and TShort....

  • EM

    Ewan M.

    5 5 2017 12:27

    0       0

    Love your work Dave

  • T~

    Tshort63 ~.

    5 5 2017 04:43

    0       0

    Very enjoyable, liked the format. The ability to look back is really helpful to get an ebb and flow feel too technical analysis.

  • DF

    Dave F.

    5 5 2017 04:35

    0       0

    Tyler B....you may well be right. For me, DXC is too binary right now, I do not see a good reward/risk to be bullish or bearish....yet.

    In the interim, AUD/NZD remains of interest as does EUR/NZD....and of course that soon to be trading at much lower levels.....GM

  • TB

    Tyler B.

    5 5 2017 02:46

    1       0

    My DXY price objective is around 95.00. Nothing in my charts looks bullish and I believe has a high probability of breaking down.....drastically.

  • DF

    Dave F.

    4 5 2017 23:27

    1       0

    Hi Jin,

    Markets covered each month is really dependent what I am focused on at the time of the shoot. Knowing that FX and major asset classes are my main focus, at some point oil and energy will come around. Just not on my radar right now.

    Dave

  • CL

    Chewy L.

    4 5 2017 22:03

    0       0

    Love to see something in crude and energy sector next time around. Looks like some key levels have been met and any proliferation will probably infect other asset classes and sectors

  • DF

    Dave F.

    4 5 2017 20:21

    1       0

    James -- if you were committed to such an idea - out of the money calls would be a 'lower' risk way to play it.

  • DF

    Dave F.

    4 5 2017 20:12

    2       0

    James M....too much too rationalize in your comments and no way to know HOW election will turn out nor what the markets REACTION will be.

    I will be long the SIDELINE trade in EUR/USD.

  • JM

    James M.

    4 5 2017 19:30

    0       0

    Dave what about the French elections Sunday, a Macron Loss or weak majority could result in a major correction in all EU member indexes and collapse in the Euro and possible contagion to the SP 500 similar to Brexit, Trump, Five Star, and the added seats of the the Dutch nationalists although the last one was far muted? Don't you think a EUR/USD short with a tight stop at is worth a punt similar to the cable 1.50 short that presented itself the weekend before Brexit?

  • DF

    Dave F.

    4 5 2017 19:29

    1       0

    Jason A.....glad I could be of help.

    Sunday afternoon will be real interesting for sure - I have no idea how things will play out....

  • JA

    Jason A.

    4 5 2017 19:18

    1       0

    Great call on the euro pop! Starting to build my short, bc we may gap down hard on the Sunday's open vs a pretty 5 waves down. We'll see. Great work Dave thank you.

  • DF

    Dave F.

    4 5 2017 17:05

    0       0

    EUR/USD thrusting higher....out of a triangle. If correct, then 1.1100 is not out of the question

  • DF

    Dave F.

    4 5 2017 14:58

    1       0

    I sent a note to the folks at RVTV regarding the chart order etc etc....they will be looking into it. For specific issues, contact RVTV directly.

    In the meantime, don'y ya just love this price action in DXC and EUR/USD? I would rather chew tinfoil.

    Luckily AUD/NZD played out as forecast and other FX crosses are looking interesting.

    It is just terrible that poor GM continues to move lower..... :)

  • FC

    Forest C.

    4 5 2017 13:48

    0       0

    first thing to watch to kick off my day... agree with the choppy market outlook... love the material Dave
    just need to fix the order of the charts in the video, asap plz !

  • FC

    FRED C.

    4 5 2017 11:17

    1       0

    dave...the charts never really lined up with your commentary...tough to connect.......
    your thoughts re my short aussie and loonie due to real estate bubbles that eventually will come to fruition......tks