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

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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 closed last month with a very nasty key reversal bar.…

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 Texas. That's why I think it's just an aberration. In…

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 the bearish nature of this pattern, I believe we're in…

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 the megaphone top, including the fact that the dollar was…
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