How Trading the Dollar Has Changed

Market forecasting, especially when looking at short-term moves, is as much an art as it is a science. [Jeff Clark's Market Minute]( How Trading the Dollar Has Changed By Imre Gams, analyst, Market Minute Market forecasting, especially when looking at short-term moves, is as much an art as it is a science. If there was a single proven method that could predict every little squiggle on a chart, there would be many more successful traders. That’s why it’s so important to have a framework or a system that allows you to adapt to the market when conditions change. Recommended Link [“One-Stock Millionaire” IGNORES 99.9% of the Market]( [image]( During the 2008 financial crisis, millionaire trader Jeff Clark stunned the world when he managed to double his readers’ money 26 TIMES… CNBC caught wind of this and asked Jeff to come on live TV to explain his secret. Jeff politely said no. And now, years later, Jeff is back to finally bring this secret into the light. …Revealing how anyone can collect returns of huge gains in just 8 days… in bullish AND bearish markets! And why you need to IGNORE 99.9% of the market, instead focusing on only ONE stock. [(ticker revealed here)]( Jeff says: “I am tired of watching as investors lose their shirts buying risky assets… even my OWN SON lost -60% in crypto & tech stocks… now I’m going to give him a [“Financial Intervention”]( to help him win his account back in 2023!” [Click Here to Watch Jeff Demonstrate This ONE Stock Secret.]( -- A perfect example of this concept can be found in the price chart of the U.S. dollar index (DXY). On June 5, I wrote about how [the dollar was at a crossroads](. DXY enjoyed a nice rally from April 13 to May 31, going from 100.78 to 104.69. But for the rally to really pick up steam, the market would have to break through an important overhead resistance zone. That zone spanned from about 105.20 to 105.65. If DXY can’t break through the zone, then it likely means we will see a period of dollar weakness. At the time, I wrote that the odds of DXY breaking one way or the other were about as reliable as a coin flip. Now, however, the picture has changed, and the odds have shifted significantly. Instead of seriously testing the resistance zone, DXY instead broke sharply lower. Let me walk you through an updated price chart of DXY below so I can show you what I mean. [(Click here to expand image)]( Around June 7, DXY looked as though it would find support on the 20-MA. Breaking below this technical indicator was an initial warning sign that the dollar’s recent uptrend was now in jeopardy. The next line of defense for the dollar was the 50-MA. You can see how the market has now broken below the 50-MA as well. This is a bearish signal that doesn’t bode well for the buck. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. This technical weakness in DXY suggests we should be on the lookout for opportunities to be short the dollar instead of being long. This means the best trade setups will be to wait for bounces as potential reasons to sell the dollar against its peers. The key to this bearish scenario in the dollar is the 104.70 price level in DXY. So long as the dollar index remains below 104.70, which coincides with the monthly high from May, it makes sense to look for those shorting opportunities. As the price action in the dollar continues to develop, I’ll be sure to update you right here. Happy trading, Imre Gams READER MAILBAG Have you traded the dollar before? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Final stage before digital money]( The end is near… Our financial system is about to be transformed in a way that would’ve been unthinkable just a few years ago. And almost nobody is prepared for the chaos that follows. According to Bank of America, this overhaul is imminent – And Dr. Nomi Prins says the final stage begins in July, with the rollout of the FedNow system. To show you everything you need to know about the FedNow system – and to help you prepare – Dr. Prins has recorded a free presentation with all the details. It’s controversial, but Nomi’s interview is a must-watch for anyone with more than $2,500 in an American bank or retirement fund. [Click here to find out what you need to do to prepare for this historic transformation.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](