$DXY: New weekly signal spotted...
The dollar index has flashed a buy signal in the daily and weekly timeframes here, I've bot some exposure to it via long calls in $UUP expiring by late September. The weekly Time@Mode trend signal forecast implies a substantial move lasting 6 weeks from here onwards. Downside risk is small, the signal suggests a 3.65 times reward to risk ratio, if the target is reached and the stop isn't, since the signal popped on Thursday this week.
Trading FX signals like this adds a nice source of alpha to a stocks portfolio, I like to focus on the dollar index for simplicity's sake, but at times there's good opportunities in cross pairs as well, for those avid with macro analysis.
Best of luck if buying the dollar here, expect a strong rally until the target is reached at least, with +60% odds.
Cheers,
Ivan Labrie.
Trading FX signals like this adds a nice source of alpha to a stocks portfolio, I like to focus on the dollar index for simplicity's sake, but at times there's good opportunities in cross pairs as well, for those avid with macro analysis.
Best of luck if buying the dollar here, expect a strong rally until the target is reached at least, with +60% odds.
Cheers,
Ivan Labrie.
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Weekly and quarterly targets hit in the Dollar Index...
I suspect it could reverse from here.
