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With the Dow making a U-turn from an early sell-off, JPY shorts are getting eager and active. While the chatter about the USD/JPY will begin, that’s not the pair I am looking to sell JPY with. Rather I am looking to the CAD/JPY, NZD/JPY, and ...
Certainly determining “chop” can be subjective, but here’s how I do it. The daily AUD/USD is moving sideways, most recently with more green GRaB candles than blue or red reflecting that the near-term sentiment and momentum is bullish. The move ...
The uptrend on the daily chart of the USD/CAD has remained intact despite the recent layer of resistance on the U.S. Dollar Index between 81.20 and 81.50. This stall in the U.S. dollar’s bounce has not derailed the bullish Directional Bias on the ...
The U.S. Dollar Index is easily a comfortable “buy” than “sell” considering the Fed’s most recent taper and this coincides with the upward surge seen on the dollar. However, today’s Unemployment Claims were nothing to celebrate: A slight 3k upward ...
The U.S. Dollar - despite the move back above the 80.00 level - is still trading in a chop and that means the 81.33 to 81.49 presents a significant slippery slope for the bulls and even could usher in talk of being “overbought”. It’s not entirely ...
The U.S. Dollar Index sunk down to test the resolve of the buyers waiting at 80.00, not that a week ago they thought they’d be tested again as the December contract headed towards 81.00. Without any bullish momentum above that major psychological ...
The daily chart of the USD/JPY continues to have all the makings of an uptrend that is still developing. More dollar strength and more Dow strength will allow the 34EMA Wave to follow-through on the USD/JPY’s “twelve to two o’clock” trajectory that ...
The daily GBP/AUD has broken higher as some MPC hawkishness (thanks Member Martin Weale) helped the pound sterling find some bullish momentum earlier this week. Weale’s comments regarding the rates not remaining at 0.5% for too long were exactly ...
The USDJPY has continued to find support above the breakout of the triangle pattern and well above the 99.00 - 99.20 breakout area. The next target is the major psychological level at 100.00 which - for now - eludes the bulls as support despite the ...
The AUD/USD is on the radar as it sells-off through October lows today. The wick that touched 0.9268 just before Noon EST has since seen bullish momentum return and made a run at the 0.9300 major psychological level resistance. Despite all the ...
USD/JPY Breakout Trigger Downtrend Line Breakout The USD/JPY has continued slightly higher on this bank holiday-effected start to the week. The move is less then spirited despite the Dow closing at a new all-time high. It should be mentioned that ...
November 4, 2013 Fade the EUR/USD. If the Friday rally in the greenback was one big “they may taper sooner than we thought” short squeeze, then we’ve seen the bottom in the U.S. Dollar Index and it’s at 79.06. But just because the buyers have found ...
The U.S. Dollar Index (DX) continues to trend lower with bearis Directional Bias which is confirmed with the consistent red GRaB candles and the "four to six o'clock" angle of the 34EMA Wave. Because of this I am continuing to look for dollar shorts ...
The U.S. Dollar Index sat on support…waiting for the inevitable reason to rally or sell-off as the market finally got to react to the long-awaited NFP release - 18 days late. The support from 2012/2013 was the line in the sand; knowing what the Fed ...
Trading the U.S. dollar in the direction of its overall (daily) trend continued to be a tough proposition. The market has rallied through the early morning session on anticipation of a deal passing the House and Senate today - landing on the ...
The uptrend on the daily GBP/USD remains intact despite the recent correction. The green GRaB candles show that there is still enough bullish sentiment and momentum to keep the trend intact. The 1.60 handle is being tested but there has not been an ...
Yellin’s dovishness seems to be overriding the the news that there is now a nominee ready for confirmation for the Fed’s chairman seat as the U.S. Dollar Index is enjoying a rally. With the decision being made, the market is jumping ahead to ...
Nothin’ like a new 52-week high in the Dow to help the yen weaken… With the Dow running higher on what was a surprising lack of even a minimal taper from the Fed, “Septaper” is not to be. As long as the Fed will continue to support the Dow and keep ...
The GBP/USD has pressed higher on the MPC today as it seems that both Carney & Co. and pound sterling bulls are on the same page regarding a “sustainable” recovery in the U.K. The fundamentals are now stacked with the solid data out of the U.K. ...
There are expectations of a 10 billion dollar reduction of U.S. treasury purchases. There is no lack of drama surrounding tomorrow’s Fed: Who will take over for Ben Bernanke? And what, if any, immediate impact does today’s CPI have on the Fed? ...