Mark's "No Holds Barred" Views, Opinions and Insights Into The World of Forex Trading

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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 in just a moment. As a reminder, when looking at…

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 the descending wedge price pattern I'm showing you here. So…

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 primarily based on two very bearish price patterns. The first…

Is the US Dollar Poised For A Big Drop?

Let's get right to it and review the U.S. Dollar Index weekly chart today. For the past several months, I've been predicting the demise of the U.S. dollar ever since it peaked with a megaphone top. So what's a megaphone top? As you can see, the descending wage is denoted by a sloping downtrend line that connects all the highs…
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