DXY, And general market view [11May2022]
Hello, I've been gone for some time now. busy with my job and backtesting and improving our code. Suffice to say, we saw a massive improvement in our backtest and also ability to capture psuedo-macro cycles, pretty stoked about that. Let's get over the boring stuff.
Our algo was pretty efficient at capturing dollar moves and as of today, dollar (DXY) became green again.
It had consolidation period for last week and current upper range is 106, which is pretty massive. Either the code is bugged or we are in for some pain.
When DXY is making these big moves, the associated pairs such as EURUSD and USDJPY are also showing some incoming big moves.
1. EURUSD is bearish short term and long term, and currently at the top end of its today's range
2. USDJPY is bullish short term and long term, currently almost at the low end of its today's range, but volatility is still a bit high for y liking's
3. USDMXN however is mild bearish, probably MXN still remains as one of the safe haven like in the 90s? I don't know, but I will not be buying USD against MXN
4. Micron (MU), our analyst actually likes this a lot, but currently it has a strong short term bearish trend to 62, short it if you want.
5. JD.com is short term bearish and long term bearish too
6. SPY and QQQ are also bearish at the moment, expect a bounce or a straight up drop. I will not be touching them for now
7. Crude oil is bullish at the moment with top end at 115 and low at 92, do with that what you will.
We have few more ideas for today, I'm just lazy to type them.
If you want some insight on our crypto plan, please hit follow I will be posting our idea for crypto for this year soon.
Our algo was pretty efficient at capturing dollar moves and as of today, dollar (DXY) became green again.
It had consolidation period for last week and current upper range is 106, which is pretty massive. Either the code is bugged or we are in for some pain.
When DXY is making these big moves, the associated pairs such as EURUSD and USDJPY are also showing some incoming big moves.
1. EURUSD is bearish short term and long term, and currently at the top end of its today's range
2. USDJPY is bullish short term and long term, currently almost at the low end of its today's range, but volatility is still a bit high for y liking's
3. USDMXN however is mild bearish, probably MXN still remains as one of the safe haven like in the 90s? I don't know, but I will not be buying USD against MXN
4. Micron (MU), our analyst actually likes this a lot, but currently it has a strong short term bearish trend to 62, short it if you want.
5. JD.com is short term bearish and long term bearish too
6. SPY and QQQ are also bearish at the moment, expect a bounce or a straight up drop. I will not be touching them for now
7. Crude oil is bullish at the moment with top end at 115 and low at 92, do with that what you will.
We have few more ideas for today, I'm just lazy to type them.
If you want some insight on our crypto plan, please hit follow I will be posting our idea for crypto for this year soon.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.