{"id":111,"date":"2008-08-17T13:31:42","date_gmt":"2008-08-17T17:31:42","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=111"},"modified":"2008-08-17T13:31:42","modified_gmt":"2008-08-17T17:31:42","slug":"is-the-dollar-strenght-sustainable","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/is-the-dollar-strenght-sustainable","title":{"rendered":"Is the Dollar Strenght Sustainable?"},"content":{"rendered":"

As I have mentioned in my bio, I have been trading currencies for quite a while. I do not miss getting up at 1am EST to get ready to trade the London session. Yet, these days with the current violent moves in currencies I find it hard not to sacrifice an hour or so of sleep to put a day-swing trade in the EUR\/USD pair. <\/p>\n

During the past 2 weeks we have seen a considerable move in the dollar against the major European currencies. The violent move across the board appears to indicate that the fundamentals are changing for the Dollar. From a technical perspective the 2 year downtrend in the dollar index futures has been breached (see the chart below). <\/p>\n

dollar-index-chart.bmp<\/p>\n

Obviously the important question is whether this move is sustainable. I do not really have an answer for that one, I welcome comments. But as trader the recent strength in the dollar has created a great fade opportunity in the EUR\/USD. The pair is approaching a long-term uptrend line and considering the ridiculous move, (1.56 to 1.47 in 2 weeks) I find it hard to believe that we will crack that line the first time around. So I’m looking to load up around the 1.4630-1.4650 area and looking to hit if we go through 1.46. If the dollar index holds the 77.90 area then I’m going to really load the boat. <\/p>\n

eurusd_weekly.bmp<\/a><\/p>\n

So how does this help me with my equities play this week? Well, if the volatility is maintained at these high levels in the currency markets I expect a bit of action in the Gold and Oil sectors. Perhaps a weaker dollar move will lead to a bounce in oil and thus the beaten down oil services stocks. Regardless of how my dollar play ends up, it should be a good trading week considering that it is summer time. Get ready for some free money! <\/p>\n","protected":false},"excerpt":{"rendered":"

As I have mentioned in my bio, I have been trading currencies for quite a while. I do not miss getting up at 1am EST to get ready to trade the London session. Yet, these days with the current violent moves in currencies I find it hard not to sacrifice an hour or so of sleep to put a day-swing … Read More<\/a><\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[126,125,127,30,18],"class_list":["post-111","post","type-post","status-publish","format-standard","hentry","category-fundamental-plays","category-gilbert_mendez_gmans-blogs","tag-energy-stocks","tag-fx-market","tag-gold-stocks","tag-prop-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nIs the Dollar Strenght Sustainable? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/is-the-dollar-strenght-sustainable\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is the Dollar Strenght Sustainable? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"As I have mentioned in my bio, I have been trading currencies for quite a while. 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