USD Basket SHORT - markets are unfolding nicely

2020년 8월 3일

Last week we had seen the market price in destined poor quarterly GDP figures with no immediate sign of recovery of COVID 19 crisis in USA.

I think we have already had our bull run of USD from those attempting to liquidate assets across various asset classes demanding the purchase of USD and now we are witnessing a huge change in market structure.

As per the charts I've market at levels I expect USD to potentially retrace to early this week before it resumes its downward leg.

Ill be looking to build further into my silver holdings as USD falls lower after running 94 - 94.5 and resume its downward move.

I personally am a bit iffy about building into long positions of Cross pairs as this unfolds due to the exposure to risk across all country's with the COVID 19 crisis. This as result has truly built up my appetite to risk on markets ie Gold, Silver and Crypto.

First USD target im looking at 90.50 which i believer we will see some consolidation so will profit take some of my positions and wait for further confirmation of prices breaking down to my next target of 89 big figure. Once again i do foresee a couple weeks playing the 89 level before starting to make its way down further to 86 big figure and beyond.

I do believe that the US days of being the financial super power of the world are coming to a end.

So targets to watch when USD runs 94 - 94 50 ill be increasing LONGS on Silver and long term holdings of Crypto projects + silver miners.

2020년 8월 5일

노트

So far things have been unfolding nicely.

Today we have Non farm Payrol and PMI release so we should expect to see some volatility come into the market over the NY session so tread with caution.

It's always interesting at times likes these to see what the set out to achieve on the back of the news catalyst.

Im expecting a retracement higher on USD before resuming per my initial posted analysis.

We have lots more to go to the downside as far as im concerned which is Pro being bullish on Metals, commodities and cross pairs long term.

As we are in the midst of a risk-on the environment I'm not all that excited about gaining additional exposure to currency in the form of cross pairs. Most of my future postings will be geared towards safe heaven type assets & instruments that give good leveraged exposure to silver producers and the likes.

Today id be expecting to see USD basket pull back to 93.2 before ending the week with a downward close after taking out the lows of 92.50