Wednesday, 29 April 2015

11am update - USD continues to unravel

Whilst equities continue to see moderate weakness (but liable to turn positive this afternoon), there is notable sig' weakness in the USD, -1.0% in the DXY 95.10s (intra low 94.88). First target zone of 93/92s is clearly probable by mid May.

UUP, weekly

USO, 60min


*I will continue to use UUP as a way to highlight USD, since stockcharts don't offer intraday charts on the DXY.

So.... USD weakness continues... 93/92s now look easy to hit. Increasingly... the 90/89 secondary target looks viable in June.

If the USD can floor in June/July..... it would help make for a natural equity.. and Oil cycle top.

*I remain long Oil via USO... I am trying to give it some time to build gains before my next exit.

In any case... at least I'm not long TWTR, -4.5% in the low $40s.

11.07am.. EXITED long-USO... from 20.08....   moderate gain... it'll do.. will look to re-long.. on any pull back.