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Exotics Pairs Will Rule During the Dollar Doldrums

Let’s start by looking at the U.S. Dollar Index to get a decent overview of what’s happening there. However, I think the main action is in other pairs and that’s where I’m going to concentrate most of my remarks today. Here’s why: the U.S. dollar index looks like it’s in…

The Convincing Bear Case for Gold

We just closed the month with some very ominous price action in the spot gold market (XAUUSD). In fact, the market looks so interesting that I’ve written this special article specifically focused on gold. Let’s start with a look at the monthly chart for XAUUSD. As you can see, we…
Lake Rotorua

Ambiguity Strikes… Except for NZD Pairs

Last Friday we had the Non-Farm Payrolls release which was anticipated to see 80,000 net jobs added. Instead we saw a loss of 33,000. However, I don’t think we can read too much into that data because it was clearly thrown off by a hurricane Irma and Hurricane Harvey in…
PT ready race

Hold Tight In GBP, JPY and XAU: More Gains On The Way (But Not Yet)

Let’s start this week’s analysis with the usual: the U.S. Dollar Index, which is a useful proxy for the U.S. dollar against most major currencies. As I’ve been discussing for the last several months, the reverse triangle (also known as a megaphone top) is the defining pattern here. Due to…
PT success

1,000 GBP Pips in Less Than 2 Weeks: Is There More To Come?

Let’s start by looking at the U.S. Dollar Index because the U.S. dollar is starting to pick up some steam on the downside. Especially against the British pound, which I’ll talk about in a moment. As you guys know for the last several months I’ve been tracking the potential of…
PT irma

Is Irma The Catalyst For Some Huge FX Moves?

Before I get into this week’s analysis, I thought you might like to know that I’m currently residing in southeast Florida. As you probably know, Florida was in the path of what was projected to be the worst storm in U.S. history: Hurricane Irma. For personal reasons I wasn’t able…
PT USD

The USD Turns Around: What It Means For Everything Else

Last Friday we had the final jobs report for the month of August. Despite disappointing data, the US dollar index ended on a firm note for the week after bouncing at a key support area. Last week, I predicted this turn of events as the dollar index was already at…
PT man on computer 2

On Knife Edges: Which Inflection Points I’m Watching Now

Last Friday’s remarks by Federal Reserve Chair Janet Yellen, at the annual Jackson Hole Economic Symposium, offered little guidance on the future of monetary policy. The result saw the dollar come under pressure with gold getting a boost as well as certain currencies. Then ECB President  Mario Draghi followed Yellen…
PT olderman

Traps Galore Are Lurking In This Market: Here’s How To Handle Them

For several weeks now I’ve been speaking about my dread of trading in the latter stages of the summer. I’m primarily concerned about increasing unpredictability creeping into the markets. Specifically, we’re in the kind of environment where chasing breakouts is clearly not the way to go as so many of…

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