Блог Jignesh

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EURUSD Late Session Break - USD Strength to follow?

The EURUSD Broke to new lows late in the in the London session (around 4:30PM GMT). Is this a sign of the return of USD strength after a week of essentially sideways movement?
The problem with the USD at this point it that it's no doubt almost everyone is bullish, but it would be easier to buy on a dip, rather than continuing to chase the currency higher.
We have started to see momentum slow already. USDCAD is a great example, as the pair starts to move more sideways (while still making highs) b…
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Gold Completes Downside Correction - At Key Turning Point

The Gold Wave count shows that the downside correction from 1307 highs has completed at 1219, the 50% Fib retracement of the move up.
We can see a reversal from current levels for either the bigger C Leg to take us to the 1330 area, or a pull back against the downtrend. Current view prefers another leg higher as the main wave from lows is a single correction so far.
This translates into another leg of weakness for the Dollar, driving the crosses higher for the next few weeks
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Divergence in Gold and USD

Often we hear trader's talking about inefficiencies in the market. Well the current price action in the USD and Gold is a great example. Looking at the existing monthly candles (which are just starting to form), we can see that both are developing some green candles. It is extremely rare for Gold to rise as the USD is breaking to multi year highs.
As Gold tests against resistance at 1208, the USD is also at near resistance as well. The trend however shows Gold moving against the trend, leaving t…
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MobNaga avatar
MobNaga 11 Дек.

i love divergence:)

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Looking for US Dollar weakness to continue this week

I had blogged a few times already about anticipating some Dollar weakness. I expect the week to continue the moves that we saw on Thursday / Friday.
There is a good technical case to be made for most of the USD pairs, whether you're using trendlines and viewing the fakeout of the daily trendline on USDJPY, or using moving averages supporting NZDUSD, or Fibonacci levels in the EURUSD, there are just too many signals pointing to further bearishness in the USD.
The confluence of these signals acros…
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US Dollar Remains Bearish - Long term down trend

Every time the US Dollar gets a bit of a lift, many trader's become extremely bullish the US Dollar calling a long term change in trend. I distinctly recall last year in May. The dollar made a marginal new high (monthly chart), and traders were piling on USD Longs.
The long term players are not going to be getting on this bandwagon. In fact, long term players are still looking at short the currency and will continue to do so.
There are two ways to look at this. Fundamentally & Technically.
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Omela avatar
Omela 18 Май

it is perfectly!)

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