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…

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…

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…

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…

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…

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…

Last week we saw a pretty tepid performance in the dollar. We saw a mini key reversal where the market reversed and closed on the low, but the price action was contained and this leads me to a bigger theme about the market action in general, which I’ll get to…

Let’s start this week’s analysis with a weekly chart of the US Dollar Index. If you’re a regular reader, you’ll know I’ve  been predicting the demise of the U.S. dollar for quite some time. That’s entirely due to the combination of a reverse triangle or megaphone top price pattern and…