Currencies

BREXIT Vote To Clarify British Pound’s Next Move

As of this writing, we do not yet know the outcome of the Brexit vote. Even so, we expect the event to jostle the British Pound into one of two possible Elliott wave scenarios. Whichever path the British Pound takes, it should produce good trade openings over the coming months….

Japanese Yen Wave Pattern Points To Coming Decline

If the U.S. Dollar continues to rally, as we showed in the forecast we posted in May , then it should set up favorable conditions for short trades with respect to paired currencies. Often we chart those developments using futures contracts, but there are also several forex ETFs that are…

US Dollar Index: Time To Start Buying The Dips?

The latest US Dollar Index rally has been met with a lot of conjecture around what it means, etc.  It seems that most don’t believe in the rally and are expecting further weakness. I agree on the possibility for near-term weakness in the US Dollar, but that’s a matter of technical…

5 Trading Ideas For Bulls ($RTN, $CHKP, $MDT, $UPS, $BTCUSD)

At the end of every trading month I like to scan through monthly charts to gain some context about the general health of the market and to see what kind of stocks are setting up for longer term moves. It also helps me find some high probability trading ideas. The “Sell In May”…

Currency Spotlight: Did The USDJPY Bottom?

After months of trending higher, the Japanese Yen may be stalling. I wrote about this last month, specifically as it related to a potential USDJPY bottom. Today, I’d like to revise the USDJPY chart and provide an update. After watching the USDJPY rally off the 107 and change level, the…

US Dollar ETF (UUP) Set To Rally Off Yearly YS1 Pivot

The US Dollar has been major topic and theme for traders in 2016. Many questions are swirling around the recent decline in the buck and fallen the US Dollar ETF (UUP): Is this the start of deeper decline?  Or is this decline almost over? Well, we should get a better idea…