Currencies

British Pound Decline Set For Another Wave Lower

As the U.S. Dollar spent the past several years working upward in an impulsive wave, so too has the British Pound (CURRENCY:GBP) cross been declining impulsively. We believe both markets can travel further after the 2017 pullback structures are complete. Right now there might be an opportunity to catch a…

Is The US Dollar Forming A Long-Term Bullish Flag Pattern?

This past year has seen the US Dollar Index (CURRENCY:USD) slide nearly 10 percent. And this action has brought out the Dollar bears. But could this all be part of a very bullish chart pattern? If so, the US Dollar could be headed much higher. The chart pattern that I…

USD/JPY Currency Chart: Is Elliott Wave 2 Over?

I’ve been watching the US Dollar Index (CURRENCY:USD) and Japanese Yen (CURRENCY:JPY) for many years.  And I’ve had several trading run-ins with the USD/JPY. Those who follow me know that my current working thesis is that the Dollar/Yen currency pair put in a major bottom. So where are we now? My…

A Seasonal Second Wind For The U.S. Dollar?

In this article we look at a couple of key potential catalysts that will shape the tactical view on the US Dollar Index (CURRENCY:USD) at a time when the US Dollar bull market is looking very tired. The chart in question appeared in the latest edition of the Weekly Macro Themes…

U.S. Dollar Index Most Oversold Since 2008

Lots of indecision around the Dollar right now.  I’m honestly in the “I don’t know” camp when it comes to the current major trend in the US Dollar Index (CURRENCY:USD). For instance, did the dollar just finish a multi-year A B C upward correction and is it now headed for…

Gold / U.S. Dollar Ratio Racing To A Near-Term Peak?

Two of 2017’s major investing themes thus far are the return of Gold (NYSEARCA:GLD) and the prolonged weakness in the U.S. Dollar (CURRENCY:USD). Year-to-date, Gold is up 15.72% while the U.S. Dollar is down 9.57%.  This follows a multi-year decline in Gold and a multi-year rise in the Dollar. The…

Is This Gold Breakout For Real: Watch The Japenese Yen!

There’s been a lot of discussion recently of the breakout in gold prices. The yellow metal had been trading in a range for the last several months, seeing resistance just under $1,300/oz and support at $1,220/oz. While I do believe the breakout is encouraging and does align with seasonality for…

U.S. Equities Trading Update: Bulls Defend Support

We’re seeing some minor backing and filling today following Tuesdays’s big rally. The S&P 500 Index (INDEXSP:.INX) is giving back around 1/3 of yesterday’s gains at the time of this writing. European stocks are also trading fractionally lower despite some good economic data. The trend remains lower from early August…

3 COT Charts For Commodities Traders (August 18)

The following are charts and data showing non-commercial futures trading positions as of August 15, 2017. This data was released with the August 18 Commitment of Traders Report (CoT). Note that these charts also appeared on my blog. The 3 charts below look at non-commercial futures trading positions for Crude Oil, Gold, and…

Why The US Dollar Correction Might Be Over

The current setup in the US Dollar index (CURRENCY:USD) is rare in that a clear and logical fundamental and technical case can be made for a rally (or a move to the upside). Could this simply be a correction within an ongoing bull market for the US Dollar? At the…