A New Way to Play the Dollar

Published on
December 14th, 2018
Duration
6 minutes

A New Way to Play the Dollar

Trade Ideas ·
Featuring Joe Perry

Published on: December 14th, 2018 • Duration: 6 minutes

Joe Perry, CMT, of ForexAnalytix, highlights the current setup in the Norwegian Krone and discusses how to profit from the opportunity. In this interview with Justine Underhill, he takes a deep dive into the charts, analyzes the key levels and considers risks to the trade. Filmed on December 11, 2018.

Comments

  • KC
    Kenneth C.
    14 December 2018 @ 22:03
    I've noticed quite a few 1 to 1 R/Rs lately, not just by Joe. Would need a better reason to take those odds.
  • JL
    J L.
    14 December 2018 @ 21:43
    too susceptible to an oil bounce, no reason to trade this way
    • CS
      Christopher S.
      18 December 2018 @ 09:22
      It might be one to consider after a bounce though
  • JW
    Joel W.
    14 December 2018 @ 20:54
    I don’t like the concept of risking 20 cents for a 20 cent potential gain.
  • DR
    David R.
    14 December 2018 @ 19:02
    Really enjoyed seeing his technical perspective. My elliott wave counts are different for the broad dollar (eg, USDOLLAR, DXY, etc) than his count shown for NOK. ie, he has the dollar rising in an impulse against NOK whereas against currencies the dollar is merely ABC corrective against currencies, ie dollar is correcting highly before a much bigger impulse move lower ahead against a broader currency basket. Yeah, maybe the Fed is the catalyst for that as Trump is stuffing it with doves who are intent on cutting US rates and even advocating negative rates, especially for a US recession which is inevitable sometime, maybe sooner rather than later. For the fed to make negative rates bite, US must get rid of paper currency, or at least recall all bills bigger than a 20 or 10, before Fed can go to say -5% in a recession as advocated by Larry Summers "the father of negative interest rates". Coming to a bank near you sometime? Negative rates could spell the end of USD reserve status, as you can't have negative interest rates for a reserve currency; every central bank in the world will rapidly dump all its dollars (already beginning) and move to gold, as no interest is much better than negative interest!