Tag Archives | forex

Canadian Dollar Futures - CAD - Loonie

CAD – The Loonie has a Broken Wing

I hate to date myself here but as a young man I was very fond of the video game duck hunt- a “classic” shooting game for the first version of Nintendo. Just as those birds fell from the sky I think the Loonie short term is headed south. Most followers are aware I have been […]

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Gold futures chart

Gold – A Final Push or Just the Beginning?

Since bottoming on 6/28 at $1179.40 August gold futures have advanced 12.5% approximately $150/ounce. As of this post a decisive move through $1300 higher by 2.88% today. One can see on the chart below the horizontal line just below $1300 that had served as resistance now shall serve as support. In three short weeks future […]

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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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U.S Dollar Index Weekly, July 11, 2013

The Greenback from Two Viewpoints

A very interesting last 30 days…let’s look at the weekly and daily charts on the Almighty Buck. Let me get this straight the greenback rallied on speculation that a rate hike may happen sooner rather than later; higher rates should equate to a stronger dollar. Yesterday Bernanke set the market straight verbalizing that not so […]

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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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Bearish Engulfing Candle in Gold

Energy: All yesterday’s gains were given back in Crude oil today with losses of 1.75% putting prices under $92/barrel. The 50 day MA has capped upside the last two sessions and until July gets above $94 expect sideways to down action. Above $94 I am a lot friendlier. I continue to trade my bias on […]

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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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