Traders are selling the rumor right now. So the dollar is already discounting no rate hike. Then when it becomes reality the dollar will do the opposite of what traders expect and rally for a bit. It won’t last long though before the dollar starts heading down again. In my opinion it’s on its way to 88 during this intermediate cycle.
Wednesday, October 14, 2015
UUP
Traders are selling the rumor right now. So the dollar is already discounting no rate hike. Then when it becomes reality the dollar will do the opposite of what traders expect and rally for a bit. It won’t last long though before the dollar starts heading down again. In my opinion it’s on its way to 88 during this intermediate cycle.
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Fine analysis Bill. Aligns with my USD target range of 86 to 88 over some months. UUP does seem quite oversold in the short term and is probably ready to bounce as you indicated.
ReplyDeleteIndeed my friend UUP is a core short....
ReplyDelete