News, remarks, commentary, analysis of Forex markets
Directional Bias For The Day: S&P Futures are lower; The odds are for a down day with elevated volatility Futures are sharply down at the open and there is great chance of a bounce from pre-open low levels Key economic data due: New Home Sales ( est. 730K; prev. 719K) at 10:00 AM Directional Bias…
Monthly Chart Indicates Pause in Uptrend For the month of August 2018, the dollar index made a shooting star pattern (see Fig 1). The shooting star is a bearish reversal pattern that occurs after a rally. The index has been rising since making a low of 88.15 on February 16, 2018. So even though the…
Dollar Index The U.S. Dollar Index, DX #F, has been declining since January 2017 when it reached the highest level since 2003 (Chart 1). During 1990s, the index has risen from a low of 78.43, in 1992, to a high of121.90 in 2001. The up trend reversal occurred after a near triple bottom pattern – two other…
Since the beginning of May 2016, the U.S. Dollar Index has been on an uptrend and making bullish chart pa. It got a fresh boost in November with renewed conviction in an imminent Fed Fund rate increase. Also, fueling the rise is a greater possibility of fiscal stimulus, which would expand the U.S. economy. However, former…
Central banks around the world are highly active. Some, like in Switzerland and Denmark, are working overtime to prevent their respective currencies appreciate too much. Some, like in emerging markets – India, Russia, Ukraine etc. – are fighting to prevent their currencies not depreciate a lot. Then there are others, like in Japan, U.S.A. and EU, who are…
The Swiss National Bank (SNB) shocked the world with its decision to remove the Euro floor. The franc declined over 15% versus the Euro. Since August 2011, the SNB had been defending the EUR/CHF exchange rate at 1.20 level. It decided to do that after the EU fell in grips of various crises and the franc appreciated 40%…
On June 11th, we got traded British Pound on the long side against US Dollar in our long British Pound in June strategy, when the currency pair was at 1.67900. On June 27th we added to that position at 1.7073. The exit window for this strategy opened up in mid-July and we exited one lot on July 16th at…
In June we entered long trades in our long British Pound in June strategy. The exit window for the trades is opening up at the close of trade on July 21st. We will close one of our trades tomorrow.
Our long British Pound in June strategy has been quite successful since 2000. We enterer long trades on June 11/12 @ 1.67900 and on June 27th at 1.70350 for an average price of 1.68513. One of our exit signal triggered on July 16th. We will exit one of our position. For reporting purposes we will use…
Early in June we had entered long trades in our long British Pound in June strategy. Now comes another opportunity to enter this trade. We usually follow four entry strategies.On close of June 11th, we had issued three trade alerts. The fourth one will trigger at the close of June 27th. We will hold this trade till mid-July. We will send…
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