Currencies

US Dollar: Indicator Most Overbought In More Than 15 Years

The US Dollar is finally taking a breather. Back on January 27th, I mentioned that the US Dollar Index looked exhausted after a monster run up. Since I wrote that article, the dollar rallied yet another 5% higher but has since backed off. It’s probably a good time to look at the charts again to see how are things shaping up for the US Dollar now? Looking at the chart below, this

The Euro Stabilizes At Bottom Of Bear Channel

The Euro has been oversold for many weeks now. And that goes to show you how oversold can become more oversold for traders trying to pick bottoms.  But there’s reason to believe that a rally may getting started here. Looking at the popular forex pair involving the Euro, the EURUSD (or how many Dollars buy one Euro), we can see that the Euro is stabilizing after testing support at the

Will Crude Oil Prices and Services Bottom With A USDCAD Top?

In order to fully comprehend the story of the Canadian Dollar (the Loonie), the US Dollar, Crude Oil, and the Oil Services Index, you may need to go back about a year and examine the price charts. In a post I wrote over a year ago (and I highly recommend reading), the charts were showing an amazing divergence between the Oil Services Index and the USDCAD. And it did indeed

Euro, US Dollar Currency ETFs Nearing Countertrend Moves

The U.S. Dollar Index and its associated ETF have reached and exceeded the targets we presented last week, and they are now approaching an area of even stronger resistance. Meanwhile a popular ETF for the Euro is approaching support. We believe there will be an opportunity for countertrend trades in both currency ETFs soon, which could last until mid-summer. Our newly released eBook highlights additional trading opportunities that are emerging

USDCAD Chart Setup: Bull Pennant May Lead Pair Higher

Sometimes the simplest charts show the best opportunities. No need for any momentum oscillators or other fancy tools here. Take the USDCAD chart for example. The USDCAD is a currency pair (U.S. Dollar and Canadian Dollar) which represents how many Canadian Loonies it takes to buy one dollar. The pair started tracing out a well defined bull pennant on the USDCAD chart at the beginning of February, within the context of

Euro Falls Sharply: Waterfall Decline Nears Support

As the European Central Bank gets ready to start its version of QE on March 9, the Euro waterfall decline continues to unfold. In fact, the Euro is in free fall again this morning after the US Jobs report shows signs of life in the US economy, propelling the Dollar higher and Euro lower. So where does that leave the Euro in terms of its decline? Several short-term Euro technical support

US Dollar Secular Bull Market Flexes, But Correction Near

The US Dollar secular bull market began in the second quarter of 2011. During 2012, 2013 and early 2014 the currency successfully tested the 200-week simple moving average (sma) on several occasions as the long-term moving average flattened after the 7-year bear market from 2001-2008. Since mid-2014, investors have seen a strong USD rally with a breakout above the 2009 and 2010 highs, the 1985 / 2001 trendline and the

ETF Charts Review: Solar (TAN), US Dollar (UUP) Overheating [VIDEO]

Several new themes have emerged within the ETF charts landscape. And if investors are patient and disciplined they may be able to take advantage. In our monthly ETF charts review video, we analyze the current trends of the market, while calling attention to sectors and assets classes that could affect your portfolio decisions (and performance) over both the near-term and intermediate term. There are several important trends and themes to watch across the

US Dollar ETF (UUP) Nearing Upside Price Target

We believe that charting the U.S. Dollar gives active investors an edge in planning their forex trades, especially trades in EURUSD. This post highlights a trading opportunity that we are watching closely that might develop within the next few months. It is based on the analysis in our forthcoming eBook, which will be available at our Amazon page next week. The PowerShares US Dollar ETF (UUP) has broken through the upper channel