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Friday Mid-Day Market Comments

$FXE (Euro ETF) continues to trade off these previously posted support & resistance levels (buy & sell level) very well as yesterday's pullback to the former resistance, now support level once again proved to be another timely entry for a quick trade back up to the 106.57 level.  Although we are back at the 106.60ish resistance, my expectation is for a short-lived, if any, reaction before a continued move up to the next target around 108. FXE 60 minute March 20th As discussed a few days ago, the fact that I was expecting a reversal in the dollar implied [...]

2017-03-08T21:20:36+00:00 Mar 20, 2015 1:15pm|Categories: Equity Market Analysis, Forex (Currencies), Gold & Commodities|Tags: , , , , , , , , , , , , , |Comments Off on Friday Mid-Day Market Comments

Correction In the Dollar Imminent

A few months ago I made a case that a correction in the US was likely. That prediction couldn't have proved to be more wrong as the dollar just sliced through a key resistance level and burned through divergences & overbought levels as if they weren't even there.... an extremely rare occurrence. My only saving grace on getting that call so wrong heading into the end of last year was the fact that I rarely ever trade currencies and the extensive analysis that was posted around that time was to support the bullish outlook for gold & precious metal stocks at [...]

2017-03-08T21:20:36+00:00 Mar 10, 2015 10:34am|Categories: Forex (Currencies), Gold & Commodities|Tags: , , , , , , |Comments Off on Correction In the Dollar Imminent