Dollar strength
Posted by Cire2222 on Jun 23, 2008
Dollar Strength
I have been posting multiple charts on shorting the Euro, I have been looking for a reverse ‘W’ formation to be confirmed and we almost has it today but the close just was not low enough. I am still bearish on the Euro and can’t wait to see what happens the rest of this week with the FOMC so soon. Gold also took a big hit today as the dollar gained strength, if the dollar can stay strong I expect much downside in both the Euro and Gold. Below you can see a couple charts on Euro and Gold.
Down with the Euro?
Posted by Cire2222 on Jun 16, 2008
DOWN WITH THE EURO?
I’m looking for another down move in the EURO and i think we are starting to get a decent shorting op here. The Euro has tested these recent lows 3 times now. It is rare to see a triple bottom, the move tends to go with the third test. With that in mind I am looking to start picking away at a short position, I expect a break of those lows and have target right infront of the fib projections, see chart below.
not much changed
Posted by Cire2222 on Jun 4, 2008
Past couple days I have been talking about Dollar strength. The two places I wanted to be were EUR/USD and USD/JPY, these trades have been working out well. In the charts below you can see the EUR just getting no love the past few days and the USD/JPY moving up and looks like it may be breaking out of the classic ‘W’ formation. I would recommend taking some profits off the table here but No reason to take the whole position off, both these trades should continue the move.
Dollar strong
Posted by Cire2222 on Jun 3, 2008
Just last night I posted about the Dollar being a key market right now and boy did it make headlines today. Fed Chief Ben had some hawkish words on inflation and the market now thinks the rate cuts are over, the fed fund futures are even pricing in a chance of a rate hike. The EUR/USD was the best spot to be as a dollar bull just like I mentioned last night. I also like the USD/JPY pair but I do not like its intra-day correlation to the stock market with this recent weakness. The USD/JPY didn’t give me the close I wanted but I continue to think it will move higher. The dollar and oil should continue to be key markets for now.
what to do…….
Posted by Cire2222 on Jun 2, 2008
Well today got pretty ugly in the stock market but there has been no technical changes. I will remain with a neutral to bearish bias for now, the nasdaq is the only index looking strong. One critical market to watch right now is the US dollar. I think the Dollar is really at a critical point and could stage a decent rally soon if we can hold up. The dollar did take a hit today but no technical damage was done. So keep an eye out on the forex market. EUR/USD would be my pair of choice with USD/JPY in 2nd both are at a low risk entry point. My only concern with the USD/JPY pair is it tends to move with the stock market and the stock market has some bearish signals.
Tuesday night 4/8/08
Posted by Cire2222 on Apr 8, 2008
Not much changed today for our swing outlook so I will keep it Simple
S&P futures - I still think we move down a bit more before any attempt at a breakout move
Gold- Todays short in gold worked out well we were able to cover near the lows. As i posted in the forum tonight we are trading in the 920’s again and I think it is another good short entry for gold
EUR/USD- Still in wedge with a bearish bias.
USD/CHF- Still in wedge with bullish bias
USD/CAD- Least favorite of the forex trades is this pair short, has been too choppy
Stocks: I have posted the charts for many stock charts in the forum, INTC , CVX and BIDU were shorts mentioned yesterday, X is a new short that I like here as i think it may be over done short term. These should all have fairly tight stops.
Charts
Posted by Cire2222 on Apr 7, 2008
Since my internet was acting up I didn’t get charts up. So here are the charts to reference for tonight post
Employment Numbers
Posted by Cire2222 on Apr 3, 2008
another choppy day to end flat. Expect much more action tomorrow as we will get the employment numbers before the opening bell. Going into the numbers The only trade I would feel comfortable holding is a gold and EUR/USD short. The Range projection numbers will not be posted tonight as they tend to not hold up well on a big news day which I expect tomorrow.
