I have this theory that the beginning of 2014 is deja vu of 2008. We have global disinflation, with deflationary threats in the EZ. This has propped up the dollar, causing commodity prices (particularly PMs and oil) to tank. In 2007, leading into 2008, the general beat on Wall Street was that equities wouldn't decline. "So bullish it hurts," as I seen on one CNBC...
Trading the euro-dollar, at times, could be hazardous to your health as volatility moves into the pair aiming to judge the rhetoric out of the ECB. The fact of the matter is that the ECB is stalling, as it always has, when it comes to quantitative easing. The EURUSD got bids after the sentiment for QE moved from potentially December to now what looks like January...
On a technical basis, silver has reached a key intraday resistance level on the 4H chart – the 200 EMA. Currently, price action has been subdued with the last four approaches have been rejected. This resistance point has “supportive” resistance in the form of a descending trend line that began October 15. A close above these key resistance points could offer a...
Dollar-yen is on an amazing ride, fueled by the destructive policies set forth by the Bank of Japan. Nevertheless, the run-up since Oct. 31 has seen its share of pullbacks; and, if price action closes below the wedge ascending support, the pair will likely test minor support levels at 117.75 and 117. However, it would be constructive for dollar-yen to pullback at...
The NASDAQ is very, very likely to burst within two years. Over-valuation based on ZIRP and other factors will contribute to add fuel to the fire. We have see the index crack before, and the higher it goes, the further into the abyss it will go. Price action over the last couple years has be higher, clearly. But, it has be steeply higher with no real...
Gold is probably the most hated financial instrument among the Wall Street elite. Higher gold prices would assume that this so-called economic recovery was not as real as they thought. Given the bearish all-out attack on gold and the well-sought after $1,000 mark, gold has be resilient and rallied quite nicely. There are a few factors for gold's rally....
On "Long on Breakout," I was looking to go long on a breakout close, which failed to happen thus no trade opportunity. Price action was rejected twice on the descending trend line. A shorting opportunity is probable, and the same close on breakout condition remains. Downside targets are in blue. This is the perfect reason why a close confirmation is needed and...
Long on breakout CLOSE of triangle. Targeting intraday resistance levels in low to high 1,187. 20 EMA bullish convergence of 72 and 50 EMA. Should be good for a nice pop.
Gold has played out well on a technical basis. My previous analysis was rather spot on, as price action was leaning towards support at $1,133 from $1,170. Price found support and moved higher to resistance level one of $1,179 before profit taking today. Price action should remain within the descending channel, while a close below it will likely send gold quickly...
Short yen pairs on pullback. Overbought on daily. Looking for a 1.7 R/R.
Short on rejection of trend line. 2:1 R/R If price never hits trigger before moving lower, trade cancelled.
Silver has some extreme bearishness built up behind it. I am bullish long-term, but we are very likely to see a $14-hand on the metal. The nearest support is found at $14.62, while resistance can be seen at $15.60 (broken support). There are some growth worries out of China, which could give short-term support. However, there is endless central bank intervention...
Gold Analysis: Nov. 3 Please visit: tinyurl.com
Looking for the Yuan to strengthen against the dollar with support levels to test in the coming month. However, a close above the 50 percent Fib would cause a reassessment of inflection point.
Price action stuck in a supply zone, which also corresponds Fib. high to low retracement. A break and close would signal a move to the 200-four hour EMA with a second target at .89. If Aussie-dollar trades below, price action will likely trend to .8770, which is were price action support and moving average support meet. Non-directional bias, would trade in...
Been short the USDCAD for a while now as the pair can only make higher lows since rejection at 1.1385. Triple top with the third created by a quick pop in the dollar index, but price action sputtered out in overbought territory on the RSI. I tried to post sooner but price action just collapsed quicker than I could post. Looking for 1.1150 by end of the week,...
The US dollar breaks the 4H descending triangle on better than expected consumer price data this morning, printing a 1.7 percent increase versus economist estimates of a 1.6 percent; but, this figure still remains lower than the Fed's two percent target, and, perhaps much lower that Fed Chair Janet Yellen wants it. The dollar likely got a boost on disappointing...
GBPUSD is pushing higher on dollar weakness. Price action is pushing against resistance within a wedge created by a secondary trend. A close above a 1.6150 could send trend higher to 1.6186. A rejection could send price action to supports between 1.6125/35 (Disregard text at top of chart. Typo from previous chart.)