Do not look now, but the US Dollar is close to printing 2016 lows. We have a scenario on our hands that is uniquely different to 2015 at the same time of year. Last year, the US Dollar was a run-away train into the Ides of March, and then the Fed came out to tell markets that the Fed would not harm the world with a Strong Dollar on their own accord. From there, on March 18 the US Dollar started a steady multi-month decline until August 24 or Black Monday of 2015.
One theme we have seen since the US Dollar produced a lower high is a risk-on rally. Specifically, we have seen stocks and US Oil push closer and closer to 2016 highs. The scenario we see at hand is that traders who bought US Dollar via Treasuries as a safe-haven are quickly dumping US Dollar to buy equities and Oil in case the bottom is in place. Therefore, if risk continues higher and higher, the Dollar may move lower & lower. The counter-balance to this would be risk-sentiment falling apart, and the Fed pushing the reference rate higher as economic data has picked back up since February.
US Dollar Takes a Back Seat To Risk-Rally Seen in Equities & Oil
The chart above shows the US Dollar coming off a lower high that aligns with the late 2015 high. Many will look at this as a bearish head and shoulders that has more downside ahead. That is completely fair and a close below the 200-DMA below 12,050 would likely further that cause for a bearish US Dollar unless the European Central Bank and Federal Reserve decides to muddy the water and change the current risk-paradigm.
The US Dollar is getting no respect as US Data picks up, which is exactly why it’s helpful to keep an eye on key levels. The first key level to focus on that was consistent support in 2H2015 is the 200-dma. If the 200-DMA acts as resistance, we could have a clean move down to 11900/850.
The big scenario to watch for is a slingshot move higher after a temporary stay below the 200-DMA. We saw this scenario in October of 2015 that preceded the US Dollar’s strongest move of the year since the Q1 Rally. The obvious resistance is 12,214, the late February high. Until that level is broken, it will be difficult to get on the US Dollar train unless risk, as seen via WTI Crude Oil collapses in which then, US Dollar could resume its ascent.
Do not look now, but the US Dollar is close to printing 2016 lows. We have a scenario on our hands that is uniquely different to 2015 at the same time of year. Last year, the US Dollar was a run-away train into the Ides of March, and then the Fed came out to tell markets that the Fed would not harm the world with a Strong Dollar on their own accord. From there, on March 18 the US Dollar started a steady multi-month decline until August 24 or Black Monday of 2015.
One theme we have seen since the US Dollar produced a lower high is a risk-on rally. Specifically, we have seen stocks and US Oil push closer and closer to 2016 highs. The scenario we see at hand is that traders who bought US Dollar via Treasuries as a safe-haven are quickly dumping US Dollar to buy equities and Oil in case the bottom is in place. Therefore, if risk continues higher and higher, the Dollar may move lower & lower. The counter-balance to this would be risk-sentiment falling apart, and the Fed pushing the reference rate higher as economic data has picked back up since February.
US Dollar Takes a Back Seat To Risk-Rally Seen in Equities & Oil
The chart above shows the US Dollar coming off a lower high that aligns with the late 2015 high. Many will look at this as a bearish head and shoulders that has more downside ahead. That is completely fair and a close below the 200-DMA below 12,050 would likely further that cause for a bearish US Dollar unless the European Central Bank and Federal Reserve decides to muddy the water and change the current risk-paradigm.
The US Dollar is getting no respect as US Data picks up, which is exactly why it’s helpful to keep an eye on key levels. The first key level to focus on that was consistent support in 2H2015 is the 200-dma. If the 200-DMA acts as resistance, we could have a clean move down to 11900/850.
The big scenario to watch for is a slingshot move higher after a temporary stay below the 200-DMA. We saw this scenario in October of 2015 that preceded the US Dollar’s strongest move of the year since the Q1 Rally. The obvious resistance is 12,214, the late February high. Until that level is broken, it will be difficult to get on the US Dollar train unless risk, as seen via WTI Crude Oil collapses in which then, US Dollar could resume its ascent.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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