Education

July 24, 2020

Market Update – July 24

USDOLLAR (EUR, GBP, AUD, and JPY) is testing a major level (daily chart is below). Price reacted today at the top side of the center line of the Schiff fork from the March high and the top side of the line off of the March and May highs. This is a great spot for a bounce. Pay attention to the upper parallel and former support at 12253. A break above there would indicate an important behavior change.
July 23, 2020

Market Update – July 23

THE U.S. DOLLAR IS GETTING PUNCHED IN THE MOUTH, AND ITS OUTLOOK AMID CORONAVIRUS DOESN’T LOOK GREAT, SOME EXPERTS SAY
July 23, 2020

Extreme Bearish Sentiment Towards the U.S. Dollar

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
July 10, 2020

Safe Havens Lifted Amid COVID-19 Fears

The US dollar and other safe haven assets were supported in early trading on Friday amid concerns over the spread of the conoravirus pandemic and a slower than expected economic recovery.
July 10, 2020

Market Update – July 10

No change to the 7/7 comments and ‘view’ of reversal risk in the Nasdaq. I’m simply pointing out that NQ made another 8 hour volume reversal today.
June 3, 2020

Market Update – June 3

Gold is in its 8th week of sideways trade but that may be about to end. The drop from yesterday’s high is the 5th leg within the triangle consolidation. A level to note for support is 1704.40, which is 61.8% of the alternating leg. My ‘bias’ is that gold finds support there and then breaks out to the topside. Be nimble (always) though because a drop beneath 1684 would indicate that the sideways trade is a consolidation top.
May 27, 2020

Market Update – May 27

USDOLLAR found resistance at the cited level (recovery high was 12536) and broke down today. Individual USD crosses nailed their supports as well (see levels noted below from last week). My wave count interpretation is that weakness from the 5/18 high is either a 3rd or C wave so downside potential is significant in the coming weeks and months.
May 22, 2020

Market Update – May 22

Nasdaq futures and QQQ (weekly QQQ is below) covered their closes from 2/21 on Wednesday and closed beneath those levels today. Mistrust of strength has been misguided but the gap fill and down day today at least presents a bearish risk point (Wednesday’s high).
May 21, 2020

Market Update – May 21

It ‘feels’ like the USD is on the verge of breaking down. That said, USDOLLAR is back into important support (line off of 2011 and 2014 lows and a major horizontal level…see weekly chart below). Support is support until broken so respect bounce potential with resistance near 12520.
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