{"id":218936,"date":"2023-08-24T09:19:59","date_gmt":"2023-08-24T08:19:59","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=218936"},"modified":"2024-05-23T16:28:40","modified_gmt":"2024-05-23T15:28:40","slug":"live-will-the-weaken","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/live-will-the-weaken\/","title":{"rendered":"Live: Will the $ weaken?"},"content":{"rendered":"<p>I covered for Thinus today as he couldn&#8217;t make it. I went through the M2 set ups for the week ahead and also showed you the Earth and Sky pairs.<\/p>\n<h2>Will the $ weaken?<\/h2>\n<p>Last week the DXY stopped above the 200 MA also taking out its previous high so I was a bit cautious about shorting the USDCHF as they are both correlated.\u00a0 You can see today that&#8217;s it heading up again. The $ could find resistance at 104.500 as shown in the video, which is where I might be interested to short it. If it breaks above then my bias would be to long the Dollar.<\/p>\n<p>However, there are some other clues I had shown in the webinar.\u00a0 Mike Maloney has warned about the 10yr yield bonds as they have broken the previous highs and sit above 4%. He has shown in his video every time this has happened something has broken. He also spoke about the $92 billion worth of commercial real estate which are up for renewal and the probability is that most of these owners can&#8217;t afford to pay the new higher rates for the rent as the costs have risen.<\/p>\n<p><iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/o44LY_IVYOI\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>Furthermore, Michael Burry who predicted the 2008 recession is heavily short on the S&amp;P 500 and NASDAQ putting in a $1.6 billion bet against the US economy to crash by the end of the year. That is 90% of his portfolio. That is very risky as he is betting against the U.S. economy. You can read that below.<\/p>\n<p><a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/michael-burry-stock-market-big-short-b2395947.html\" target=\"_blank\" rel=\"noopener\">$1.6 billion bet<\/a><\/p>\n<p>However, things could change quite quickly as China&#8217;s largest real estate company Country Garden as they have missed two dollar-denominated payments. Their share price plummeted last week and is down 40% compared to last month. If they default or miss another payment investors could rush to the $ as It is considered as a safe haven.<\/p>\n<p>So it&#8217;s best not to leave any trades over the weekend and close them by Friday evening before the market closes.<\/p>\n<p><a href=\"https:\/\/www.lemonde.fr\/en\/economy\/article\/2023\/08\/17\/china-s-largest-real-estate-company-teeters-on-the-brink-of-bankruptcy_6096819_19.html#:~:text=China-,China&#039;s%20largest%20real%20estate%20company%20teeters%20on%20the%20brink%20of,a%20model%20of%20good%20governance.\" target=\"_blank\" rel=\"noopener\">China&#8217;s largest real estate company teeters on the brink of bankruptcy<\/a><\/p>\n<p><a href=\"https:\/\/www.forexmentorpro.com\/blog\/free-forex-training-course\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"size-full wp-image-4732 aligncenter\" src=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/08\/650x60-100-Free-training-course-4.jpg\" alt=\"\" width=\"650\" height=\"60\" title=\"\" srcset=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/08\/650x60-100-Free-training-course-4.jpg 650w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/08\/650x60-100-Free-training-course-4-300x28.jpg 300w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/a><\/p>\n<p>You can watch the full webinar below:<\/p>\n<p><iframe src=\"https:\/\/player.vimeo.com\/video\/856794223?h=f167785950\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>Kind regards,<\/p>\n<p>Ashley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Live: Will the $ weaken? I have shown a few clues that things dont look good in the market and the $ rally could end.<\/p>\n","protected":false},"author":2054,"featured_media":215906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","rank_math_focus_keyword":"Live: Will the $ weaken?","rank_math_description":"","rank_math_title":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-218936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-analysis"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/218936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/users\/2054"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/comments?post=218936"}],"version-history":[{"count":4,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/218936\/revisions"}],"predecessor-version":[{"id":219308,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/218936\/revisions\/219308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/215906"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=218936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=218936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=218936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}