The recent ascent in the British Pound has lifted futures near 1.6800 in June challenging the highs from mid-February. This has been a steady climb since bottoming in July of 13′ but what I find interesting looking at the weekly chart below it appears the line in the sand is just above that level, as […]
As of this post coffee prices are higher by 4.44% with prices approaching previous resistance just below the 50 day MA (light blue line) that was challenged last week. Prices appear to be on the rise as money managers bought the dip this week when prices were trading near three weeks lows. I anticipate funds piling into coffee longs next week buying upwards of 10,000 contracts as they re-balance their positions at the […]
Sometimes the Forex market can seem a bit like the Wild West. The number of Forex brokers out there is almost unlimited, with each claiming to be the best in the market. Given the fact that forex trading is a high-risk, high leverage enterprise, the last thing you want is a broker who is not […]
I want to revisit the topic of the US dollar as I do feel an interim bottom was established in recent weeks and it appears we will see a rebound in the immediate future. I’ve been calling for this for several weeks but we only got confirmation this week with a close above the 20 […]
Not to date myself but for all those Charles Barkley fans out recognize that “Sir Charles” was a formidable force and the shortest player at 6’6 to lead the league in rebounds. Serving as inspiration I expect the US dollar to stage a rebound from current trade. The same support levels that held in mid-June […]
Silver is higher by nearly 5% today trading to its highest levels since 6/19. Since 6/28 when September futures traded as low as $18.17 (33 month low) prices are higher by 17.4%. Two significant developments in the last two trading sessions…a settlement above the 50 day MA (light blue line) which had not occurred since […]
The Cable bounced off the bottom of the trading channel and since the first few days August has appreciated 2.6% to lift futures to the upper end of the channel. As one can see futures have stalled at around the same levels that served as resistance in April/May just under $1.5600(horizontal red line). Stochastics are […]
Since putting in a top on 7/9 the US dollars trajectory has been lower but clearly that has changed today catching a bid and higher by better than 1% as of this post. I have been suggesting in recent posts that we get a bounce from oversold levels and it appears the market is delivering. […]
I alluded to this move in yesterday’s daily Commodity wrap and it looks like the move anticipated is underway. As of this post futures are trading lower by 0.74% and under their 50 day SMA (dark blue line) and 34 day EMA (orange line). I am operating under the influence that an interim high was […]
For the last two weeks the Yen has been range bound dancing on both sides of par (1.0000). Futures as of this post are consolidating around all the major MAs I use in my FX trading as seen on the daily chart below. My interpretation is we are taking a breath before jumping higher in […]
