Another 48h - Bearish GAP Yesterday, Today A Bullish GAP In DXY
2024/11/26
Another 48h - Bearish GAP Yesterday, Today A Bullish GAP In DXY
“the battle between the annual highs of 2023 & 2024 is in full swing!
who will prevail in this battle? the bears? or the bulls? and why?”
US President-elect Trump is serious - and wants to deliver! For this he was elected by the Americans. A friend of mine, CFD Online Broker Analyst, from Europe, my home country Germany, whose words I value, can hardly believe that Donald J. Trump wants to put an end to the expensive, warlike, adventurous, expansive US foreign policy. That he doesn't want to be the hegemonic US president that we Europeans hide behind - most of them even resent his MAGA politics. I always say that he is a US American - and makes politics for his compatriots (taxpayers & consumers). And I wish that all of our politicians here in my home country of Germany, indeed in all of Europe, would do the same. Make politics for taxpayers and consumers - so that we have more in our wallets! What else? Green identity politics again under the guise of liberal freedom that only costs? No - of course not. But as a US President, do you have to go so far as to threaten China, Canada and Mexico (the US's three largest trading partners) with high tariffs? I don't know it! You have to calculate that - and wait. Which is the job of the new US Treasury Secretary Scott Bessent. Which, in my opinion, is a direct hit for Trump, for the US Republicans, for the USA; a fundamentally practical, non-ideological student of economic history who understands exactly how Trump got the US economy roaring in his first term and why Bidenomics was a disaster.y
- Will We Fall Back In The W Trend Reversal Formation?
- Will We Defeat The Old Annual High Of 2024?
- Are We Heading To Annual Highs Of 2023?
DXY - and which could be answered with no, yes, yes, in the last week. Because in the first two trading days the price action had more or less fallen back to the level of the previous annual high of 2024 by the middle of the week, after the price action rose up, during the last week before. Since Wednesday, the DXY rose above the annual high of 2023 for the first time into the weekend - at least on Friday.
“I developed a theory of salesmanship based on the principle that one must not on any account identify oneself with the merchandise one is selling. Selling is a game where you score when you make a sale. If you allow your ego to be involved, the customer can brush you off and you lose; but if you do not identify yourself with your work you will be able to redouble your efforts when you are rejected, and if you make a sale you come out the winner.”
George Soros
- Who Will Takin` Over The Terrain Between The Annual Highs?
DXY closed with 107.490 points last weekend. Because a price action above would give the US bulls confirmation that the rally from the annual low in 2024 to more or less new annual highs in 2024 is continuing. While a price action below this should please the US bears again. And we must have to argue that all the price action of the last few days, the last few weeks, since the end of September 2024, is in danger of running out of steam. And we would have to assume a lower DXY .107.158 : 2024/11/26 - last price action
108.071 : 2024/11/22 - Friday High, Last Week
106.924 : 2024/11/22 - Friday Low, Last Week
Was the poor figures from the Eurozone and/or Germany just a short-term flash in the pan? Even the depth of the economic crisis? Or just the beginning? The price action will show it up! In any case, it is a bad economic cocktail for the EURUSD - vice versa tends to be better for the
DXY . Because of the self-organized left-wing liberal green economic politics here in my home country Germany the Germany Manufacturing PMI has been and will remain below 50 points since July 2022. Which corresponds to a tendentially recessive character. And it now seems to be dragging the Eurozone down with it; where the Euro Area Services PMI had also fallen below 50 points back again, on friday. Therefore, this week it is important to at least keep both the high and the low of the price action from last Friday in mind. However, 2 GAPS right at the start of the week? This shows the uncertainty and also the importance of this terrain - the price action between the annual highs of 2023 & 2024! I was actually expecting a quiet week - but nothing seems to come of it. More tomorrow...With best wishes
and with good intentions!
Aaron
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