Charting the Dollar

Published on
August 23rd, 2018
Topic
Trading, Technical Analysis, US Dollar
Duration
11 minutes
Asset class
Currencies

Charting the Dollar

Technical Trader ·
Featuring Bob Iaccino

Published on: August 23rd, 2018 • Duration: 11 minutes • Asset Class: Currencies • Topic: Trading, Technical Analysis, US Dollar

Bob Iaccino, chief market strategist for Path Trading Partners, is bullish on the U.S. dollar. He reviews the key technical levels and discusses how to effectively trade the currency now. He also provides an update on his crude oil trade. Filmed on August 21, 2018 in Chicago.

Comments

  • DR
    David R.
    29 August 2018 @ 18:21
    I look forward to his next dollar update. Good analysis and trade plan, even if it didn't go exactly his way this time, he had an exit plan and well defined technical levels. That's the best anyone can do really. Hope he's back soon, and good luck on the oil trade.
  • RR
    Raj R.
    25 August 2018 @ 19:30
    Dollar closed below 95.5 this week. Is the dollar going down then?
    • DR
      David R.
      26 August 2018 @ 23:39
      Yes, but perhaps not immediately. A huge failed technical breakout marks a very major turning point for the sad-sack weak dollar, which remains mired 900 points below its level twenty months ago! Fed was very dovish Friday, and today IRA (institutional risk analyst) reports the Fed is secretly looking to halt its balance sheet runoff. Just a dead cat bounce coming for USD probably, in reaction to the dollar collapse since USD topped on Aug 15... Dollar made a FAILED breakout; as I expected/posted previously. Dollar is uber bearish now on a multi-month horizon. Dollar will continue falling overall against all the majors except maybe yen. After a possible relief bounce, dollar bulls will be crushed per the chart failure. EURUSD could drop to 115's before surging to 120's and higher.
    • DR
      David R.
      26 August 2018 @ 23:41
      ^ BICBW but I could be wrong..... remember there is never certainty in uncertain markets!
  • SL
    Stephen L.
    24 August 2018 @ 11:35
    For trade ideas, shouldn’t we actually get a product to trade? An off handed suggestion to sell EUR or JPY doesn’t necessarily encapsulate the DXY.
    • MN
      Michael N.
      24 August 2018 @ 13:04
      This wasn't framed up as a trade idea. this was under the Technical Trader section. Although there is certainly a trade idea presented. Buying DXY isn't for most retail folks as far as I'm concerned. you'd have to risk a significant amount of capital to generate a worthwhile return. I looking at buying UUP options.
  • AC
    Andrew C.
    24 August 2018 @ 10:14
    hmmmm; Seems a well-thought-out thesis, but the crude oil trade targets and stop-loss just seem to be well within the "noise" of the average-trading-range. Thus I put forward that this makes it a low probability trade... Discuss.
  • my
    markettaker y.
    24 August 2018 @ 02:24
    RV has something for everyone.
  • MN
    Michael N.
    24 August 2018 @ 00:25
    Second video from Bob and just as good as the first. This should be the format for every trader that comes back. Spend a few minutes on the previous recommendation (why it worked or didn't work) then into the next one. I really think having folks come on and continue to put forth trade ideas without ever revisiting their previous idea is a missed opportunity. Maybe even a whole segment called The Redux... or something...
  • PW
    Phil W.
    23 August 2018 @ 23:41
    95.58 as of close Thur Aug 23
  • DR
    David R.
    23 August 2018 @ 23:03
    Best video ever in the trading series. Get this guy back please! Covers fundies and, more importantly, an assortment of key technicals more comprehensively than others here. I don't necessarily agree with the conclusion, but we both agree that key levels dictate the action (we just differ on some key levels due to some different methodology - but that's great!). His level of 95.5 on DXY has been exceeded so let's see whether it goes on up above 97 & 98 now.
  • CT
    Christopher T.
    23 August 2018 @ 17:31
    interesting analysis. I see a china deal being very yuan positive and dollar negative. Dollar following yields lower
    • DR
      David R.
      23 August 2018 @ 23:11
      Yep, after some consolidation it's risk-on and weak dollar ahead again like it was for 14 months before Feb. Will be supportive of US stocks too, although they'll be big laggards again like last year. I need to see DXY well above 98 to negate that outlook. As it is now, DXY is still struggling 800 pips below where it was early last year. How can Trump or the Treasury call that anything but a "weak dollar" and US currency manipulation! They need to clean up their own house first before looking for dirt on others, the hypocrites.
    • DR
      David R.
      23 August 2018 @ 23:11
      Yep, after some consolidation it's risk-on and weak dollar ahead again like it was for 14 months before Feb. Will be supportive of US stocks too, although they'll be big laggards again like last year. I need to see DXY well above 98 to negate that outlook. As it is now, DXY is still struggling 800 pips below where it was early last year. How can Trump or the Treasury call that anything but a "weak dollar" and US currency manipulation! They need to clean up their own house first before looking for dirt on others, the hypocrites.
    • DR
      David R.
      24 August 2018 @ 16:31
      Thumbs down I guess by those losers long the dollar. Being slaughtered for a second week. Chris is right. I am right. Totally brutal for the dollar - again today. A true collapse since ten days ago. I say great. More coming later, too. Like taking candy from a baby, lol.
    • DR
      David R.
      26 August 2018 @ 00:07
      Some of those thumbs down have been recanted.... I guess they listened to Mr Market. The dollar collapse since earlier last week is very ominous, breaking below critical support on a weekly close. It won't be linear but rest assured the dollar will be going down, waaaaay down. Currencies will beat the crap out of it. Swap all US assets for international assets if you haven't already. US assets will be relative dogs again, on a currency adjusted basis, like last year.
    • CT
      Christopher T.
      27 August 2018 @ 17:03
      David and I laughing on way to bank
  • MM
    Mike M.
    23 August 2018 @ 16:29
    Great presentation. Very well done. Make him a regular please.
  • MM
    Mike M.
    23 August 2018 @ 12:45
    Very impressive analysis. Much appreciated. Good stuff.
  • SH
    Scott H.
    23 August 2018 @ 11:31
    Very good Bob, clear, concise and well argued.

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