Sunday, July 3, 2016

Dollar Rating: 'Pretty Sad'

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*Dollar looks like it's about to restart its slide.
*That's pretty sad versus the euro.
*Yen has become the currency safe haven.
*We reiterate a sell in the dollar.
We've been watching the dollar (NYSEARCA:UUP) and euro (NYSEARCA:FXE) for clues on market direction. It looks like the dollar is about to continue its pre-Brexit slide. Elazar gives the dollar the "pretty sad" sell rating.
The dollar is weakening. That's good short term for markets but medium term it's a problem.
Short term dollar weakness is a sign of initial confidence in markets. Investors may read it as a sign that other risk-currencies are holding up. Medium term, though the trend that usually goes along with a weak dollar is weak markets.
Here's the picture shorter term that the dollar should get back on its weakening trend versus the euro.

Chaim Siegel has been working with hedge funds and mutual funds as an analyst and PM his entire career. Chaim specializes in earnings and predicts, analyzes and reacts to earnings and earnings events as well as developing current company stories with a hedge fund perspective. If you want his analysis real time sign up to the right for real time email alerts. #in, $spy, $qqq, $iwm, $vxx, $ycs, $fxe, $EUO, $YCS, ^GSPC, INDEXSP:.INX, #elazaradvisorsllc, CME Globex: ES Disclosure: These trades can lose you money and principal especially when using leverage BY USING THIS SITE YOU AGREE TO TAKE ALL RESPONSIBILITY FOR YOUR OUTCOMES AND LOSSES AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS

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