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…

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…
PT man on mountain

NZD, CHF & NASDAQ Opportunities Beckon Despite Congestion Ahead

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…
PT maneatured

Sideways Action Galore (Except 2 Pairs Set To Move Now)

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…
PT bike

On the Edge: Why I’m in Capital Preservation Mode

First, a quick recap of what I’ve been talking about for the last few months in the US Dollar Index.Let’s take a look at the weekly chart where you can see the dollar fell to further lows to set a new 10 month low. I’ve been projecting a lower dollar…

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