Currencies

Euro Chart Update: Bottom Around The Corner

The key .9438 retracement level is coming into play with regards to the EURO vs USD. My last post on the Euro highlighted this level and I continue to think it will produce a bottom. With the most recent action seeing the Euro head lower, I wanted to provide an update and some additional thoughts. See updated charts below. Please continue to follow my posts here to keep up to date with

Correlation Watch: Crude, Oil Services, and The Loonie

Why am I looking for SUPPORT in Crude Oil and the Oil Services Index (OSX)? Because, as you will see, they correlate nicely to the US Dollar (USD) vs. the Canadian Dollar (CAD/Loonie) and as a spot FX trader/investor I like to see as many correlations as I can. It’s that simple… Am I trying to “catch the falling knife of crude?”  No Am I trying to “make a great call?”

Forex Trading Analysis: US Dollar Pairs In Focus

Here’s a quick update on the Forex trading environment. The price action in the dollar based pairs suggests that some further consolidation/corrective action is underway. I think this will present us with trading opportunities in USD/JPY, USD/SGD (longs) as well as shorts in EUR/GBP Note:  the Intra-Day FX Forecast highlights price direction and likely price targets/stops designed for traders looking at Forex trading opportunities over the next several hours. These are not

The Importance Of The All Ordinaries Index And AUDJPY

The All Ordinaries Index has yet to hit its SELL pattern target so this pattern is still valid.  The zone of 5760-5835 is the key with the old realiable .786 Fibonacci retracement up at 6060 the highest it should go if the sell pattern remains valid. As you know we NEVER know which one works or doesn’t… What makes this particularly relevant, in my HUMBLED opinion is its correlation to the

US Dollar Update: More Upside For The Buck?

The US Dollar made a big move higher over the summer and spent much of October consolidating those gains. Is it ready to move higher again? On September 12th, 2014 I wrote about the strength of the US Dollar.  In that post I commented on some characteristics of the Dollar’s move higher that indicated more upside was coming. I highlighted a couple points of interest around bullish consolidation phases: 2 areas

US Dollar: Long Term Prospects Look Good

For six and a half years the US Dollar Index (DX) has trended sideways. The technical signs on the wall favor this trend resolving higher. If that panned out and the next cyclical bull trend were akin to the last one when the 20th century was coming to a close, we’d be looking at upside potential to 121.6. This outlook has implications for foreign exchange traders – there could be

US Dollar Index And Select USD Pairs Trade Setups

The week is starting off with some modest US Dollar Index (DXC) weakness, but nothing that was unexpected. However, I have adjusted the wave count to account for this. I am comfortable remaining long in USD/SGD as it is performing better while the US Dollar Index has been selling off. The same goes for USD/JPY and USD/CHF – pairs we will need to keep an eye on for possible longs when DXC

US Dollar Strength Continues: Weekly Close Important

The US Dollar has continued to punish those that bet against it. It has been overbought for some time but as most seasoned investors know, overbought can stay overbought for longer than one thinks. This week the US Dollar Index (DX) broke through the July 8, 2013 weekly high of 84.965. This has put the market on notice and may signal more near-term upside. But, for that to happen, we’d

3 ETFs For Trading Japanese Equities Amid Yen Weakness

There have been a couple of developments in the Japanese markets that traders are (or should be) monitoring. In the equity markets, there is a bullish consolidation pattern developing that active investors with an intermediate-term horizon may benefit from. Yet, at the same time, Japanese equities investors will need to keep an eye on the currency market with a focus on the impact of a weakening trend in the Japanese Yen’s value to the US Dollar.