From a technical stand we look like taking another leg higher on the Dollar as you can see from my chart here. We also have more and more talk about a Fed rate hike before the end of the year which even if it doesn't happen can cause a rally in to that news with the excitement it will create.
From the lower time frames, the USD looks rather bullish, the reason for that is clear when you look at this daily chart. Over the last week or so, the dollar has made a significant rally and when looking at this rally on the lower time frames it appears the the USD is in a strong uptrend that will likely see new structure highs. However, with that being said,...
A clear signal has been formed during the last week, so I will look for a short opportunities during the intraday price action.
One is hard pressed to find a macro bull case for crude. Supply is poised to rise, demand is looking to slow, and the dollar looks ready for another leg higher. Longer term, I still believe we'll see new lows in oil and the technicals make an easy case for a full retracement of this Spring's ascent. Currently, crude is sitting at important support, which...
The pennant on the chart is on the verge of a break. Proceed with caution as one needs to wait for the confirmation yet. But the price action and the fundamental factors/ economic noise around looks ripe to push this above. If confirmed, we should see a good rally towards 100 level. Implications: Commodities will suffer (Read: oil and gold) Fed hike will be...
The H&S is currently in play an the USD is holding on above neckline and we will not rule out a retest of that neck line for a well defined entry and risk. Target is very much of higher number at 11950 or even higher depending on how the Europe act with Greece. Stay safe
DXY has been consolidating and leaving little clues as to which direction it is likely to follow. The Elliot Wave counts on the chart show 3 potential counts all of which are viable counts. Triangulating price action by any asset class is always tricky and from an Elliot Wave perspective it exposes the subjective nature of this discipline. Below 96.17 sees the...
For the first time since June 2014, ADX ticks up while bears gain strength. This hasn't happened since June 2014. Back then, price reverted back to the upper Ichimoku cloud boundary. My medium to long term outlook is SHORT, but I wouldn't be surprised to see some more spikes up before it really takes off. For me, this is a likely start of a major trend change in...
The euphoria seen on 16th March is exactly what's needed to create a divergence. . We've a bearish divergence in RSI too, breaking away from the trend since May 2014. A pullback to 94 seems likely at this point.
The US Dollar Index has been rising strongly for most of this year, coincident with a major decline in broad based commodity indexes. However, we are currently seeing signs that the current price level may be the end of this strong run and lead to a major consolidation - likely coincident with a rally in overall commodities. This chart shows the daily Dollar...
DXY - possible up to 90.xx - but then the DXY could implode in it self. This has more than a lot of technical reasons: macroeconomic - market economy and the geopolitical conditions, both act important parts. This is only a first rough overview - we have to wait for the completion of the patterns.
Previous tests of this level were rejected. FED Reserve has said they don't want the dollar to go too high. I believe a shorting opportunity may be near.
difficullt to say what the USD is working on.... shown is a bullish scenario, where: - blue wave 3 is 1.62% extension of wave 1 - blue wave 4 a triangle - black 1 reaching the previous 4th wave -black wave 2 retracing 62% of black 1 I stay sidelines and wait if we get a clear 5 waves up as a confirmation of at least shortterm uptrend in USD.