Editor's Note: This is an excerpt from CEO Keith McCullough's morning research today. Click here for more information on how you can become a subscriber.
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So, they tested the patience of the crowded Euro and Yen short positions... but all lines of @Hedgeye resistance for those majors in the #CurrencyWar held as the U.S. Dollar Index held all lines of support.
There's no support for the Euro to 1.05 and Yen 121.61 vs USD.
On a related note, Oil...
It doesn’t like #StrongDollar, but we like shorting Oil and levered E&P equity schemes on that (ping sales@hedgeye.com to see how our energy analyst Kevin Kaiser is positioning our customers on the long/short side of this).
WTI failed at the top-end of yesterday’s risk range and has no real support to $41.93.
(No, that’s not a typo.)
