Why The Death Of The Iranian Major General Qassem Suleimani Caused Gold To Sky Rocket

By Mark Shawzin01/22/2020

I’ve complained at length about how ambiguous and directionless most FX markets are this year. There are only a few possible trades I see right now.

However, there’s a lot to be learned from ambiguity and how certain price patterns work … or not. In fact, what’s happening right now in several key markets could soon be pointing the way to extremely profitable trades.

Just look at recent price action in Tesla (TSLA) stock for the possibilities. (I’ll discuss TSLA’s meteoric rise later in this report and also which commodities could replicate that kind of explosive price movement.)

Let’s get started with the biggest market of all, the U.S. dollar…

In this chart, I’m looking at the U.S. Dollar Index (USDI) which measures the dollar against a basket of major currency pairs.

At the end of last year, we were left wondering whether USDI’s recent rounding top represented the end of a long-term bull market in the dollar. USDI was trading at or near a critical resistance level too.

Was it going to turn and roll over or was it going to find a way to dig in and preserve that long-term bull market?

it looks like USDI has dug in at current levels. You can see the double bottom reversal price pattern and right now USDI is sitting right at the neckline for that pattern. Notably, USDI carved out this double bottom at its long-term support line.

That’s why I feel the dollar’s future direction is higher for now. The only question is not if it’s going higher, but when. While USDI has been trapped in a long-term trading range, it should resume climbing at some point in the coming weeks and months.

So let’s look at some USD-related pairs to see which appear to be the most promising ways to play this idea.

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Here is what’s covered in this week’s video report:

  • What a big double bottom means in a long-term bull market for the US Dollar and the exact moves that you can make today (but the risks that you need to be aware of)
  • How to play the low-volatility of the EURUSD and the new move that I’m predicting – [watch 2:40]
  • Has the GBPUSD been a break-out or a fake-out? Here’s what patient traders can expect to see over the coming weeks [watch 4:50]
  • With Brexit in the rearview mirror, is the dollar about to rally and is the British pound in trouble? (this isn’t a simple as you would expect)
  • Boing! Boing! Boing! … why this currency pair is bouncing so much on the USDJPY and why this may be one of the trickiest trades on the board right now – [watch 8:40]
  • The impact that the death of Iranian major general Qassem Suleimani has had on GOLD and whether this is the start of an emerging bull market
  • The break-out of the SPX500 and why the dance is continuing to go on (but the big risk that you need to be aware of if you’re looking to short it) – [watch 19:50]
  • A great example from TSLA (Tesla) of why you need to be fluent and objective when making decisions (and not be caught up in the hype of Elon Musk’s recent on-stage dance)

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Many of our traders use this report to get my in-depth analysis on the live markets as I share the trends across all the major markets.

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Hi, I'm Mark Shawzin. After working on Wall Street as a trader for 23 years, and managing private client accounts for the past 13 years, I've put together my 21 most powerful Forex strategies.

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