Tag Archives | Currency

Commodity currencies charts, July 20, 2013

The Commodity currencies not out of the woods yet

Energy: Crude oil finished higher for the fourth consecutive week trading within pennies of the $109/barrel level. It looks like an overstretched rubber band in my eyes that should snap back very soon. Those willing to accept a little risk are advised to buy September $100 put options…currently near $500 per. It is apparent I […]

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US Dollar, Dead Cat Bounce

If you go back in time and read comments from 2-3 weeks ago I had called for deprecation in the dollar and the market delivered. I only bring this up because the move happened a lot quicker than I anticipated…from the high made 5/23 June futures are lower by 3.3% in just over 2 weeks. […]

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US Dollar; Are the Greenback’s days Numbered?

Let’s look at the US Dollar over the last 3.5 years. With the exception of June 2010, when the dollar traded as high as 88.80, the 84/84.50 level has served as stiff resistance. It appears a triple top pattern is being established on the weekly chart over the last three weeks. The horizontal red line […]

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Currency War is Heating Back Up

Just before 1pm Chicago time the Yen broke par against the Dollar for the first time since the week of April 6, 2009 (low 98.67). Then the Euro fell out of bed. Then the Swiss got clubbed like a baby seal. The Aussie. The Pound. The Canadian. Everything but the Dollar got crushed. RIGHT AT […]

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British Pound, Pass the Baton to the Bears

In the last two months the Cable has appreciated 4.6% to lift prices to 3 1/2 month highs but prices are finding resistance at the 50% Fibonacci level just under 1.5600 in June futures. To put things into perspective this has not been a one way trade as prior to the latest appreciation the Pound […]

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US Dollar Index has Greenback in the Red

The Greenback is looking increasingly weak. I tell you this not as a recommendation to get short the dollar, but as a cue to look for bullish exposure in inversely correlated markets. Looking at a weekly chart, 84.00 is clearly the line in the sand. This level once acted as support (in 2010), and has […]

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Japanese Yen Contrarian Play

The Yen’s 8-month clobbering is no secret. It’s down over 20%! But what’s interesting now, in my eyes, is how the Yen seems unable to trade below parity with the dollar. Recent data out of Japan shows inflation expectations are on the rise, so why not see a bounce in Japan’s currency after such a […]

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Canadian Dollar, North of the Border

The Canadian dollar has made strides in the last six weeks. After bouncing off support at 0.9650, we’ve now retraced 38.2% of the downtrend that began last September. Prices are north of all major moving averages I use in FX and I see higher trade ahead for the Loonie, especially in light of recent moves […]

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Is the Loonie set to fly?

After starting 2013 with a 5% slide the Canadian dollar has found its footing. It’s up 1.5% in recent weeks and, as I’m writing, we’re trading above the 34-EMA for the first time since early February. Adding further confirmation to my bullish bias, prices have broken above the down sloping trend line that had previously […]

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