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Elliott Wave Analysis: USD Index Trading In Final Stages

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Posted by Gregor Horvat

on Wednesday, 07 June 2017 06:31

On the 4h chart of USD Index price recently rallied in three waves; it was a clear contra-trend price structure within wave 4. We labeled end of wave 4 near 97.77 level after that sharp leg down which is now pointing to around 96.50/96.20 for wave 5 where bigger decline may come to an end in June. That being said, a five wave rally and a breach above the 97.77 level may signal bullish activity to follow.

USD Index, 4H

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Ed Note: The US Dollar index hit a low of 96.44 this Tuesday at 11am, and is currently trading up from there as you can see it taking in initial surge to the upside at 3am Wednesday morning. You can see it testing that surge on the 15 minute chart below:

Screen Shot 2017-06-07 at 6.53.30 AM

Click Chart For Larger Image 



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Currency

Angela! Seriously? You want to go your own way?

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Posted by Jack Crooks - Currency Currents

on Thursday, 01 June 2017 13:15

Quotable 

“Our world cannot be understood by looking at people behaving within the system because of emergent phenomena.  Our markets display decisions that are not in the ergodic world of a gambler at the roulette table because our environment shifts with every interaction and experience---and particularly during crises, which is where it is most critical we find a way to predict or at least understand.  When we come to comprehend these limits, we approach a world filled with the giant unknown unknows: radical uncertainty.”

--Richard Bookstaber, The End of Theory

Commentary & Analysis

Angela!  Seriously? You want to go your own way

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Not satisfied with her maniacal immigration policy, which threatens the very existence of hard fought western cultural norms across Europe, German Chancellor Angela is now complaining about the US not being a viable partner for Germany or Europe. It’s doubtful she vetted these comments with her German industrialist buddies.  Why do I say that?  It’s because Germany has piggybacked on the US capital and trade regime (and NATO defense shield) to unprecedented proportion for the last fifty years....

.....read more HERE

 



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Currency

RIPPLE Crypto-Currency Up 20% Today….. It’s The Wild West Out There

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Posted by Steve St. Angelo - SRSrocco Report

on Thursday, 01 June 2017 06:30

Rippl-Chart-5-31-17

After the crypto-currency, Ripple, fell 12% yesterday, it surged over 20% in trading today.  Folks, it’s the Wild West out there in crypto-currency land.  I have been spending some time looking into these crypto-currencies because there seems to be a great deal of mystery behind them.  And I like looking into and solving mysteries.

Of course, the rapid increase in price has sparked some interest, but very few realize just how much energy and capital it takes to produce one Bitcoin today.  Actually, I was quite surprised.

I want my readers to know that I will be doing some research and writing some articles and Reports on these crypto-currencies (along with Gold & Silver) as I believe we are going to be seeing a lot more about them as well as rising interest in the markets going forward.

That being said, there is a lot of misinformation being spread around the alternative media about these cyrpto-currencies.



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Currency

The Dollar’s Last Stand.

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Posted by Rambus Chartology

on Thursday, 25 May 2017 07:09

There is no doubt that the US dollar looks bad right now after breaking below the bottom rail of its 5 point falling wedge last week. Before I give up totally on the US dollar there is one thing I’m going to look for first. When all else fails I like to go back to the initial pattern which was a sideways trading range or a rectangle pattern. I’ve seen in the past that when you have a nice tight rectangle with a breakout above the top rail, there can be one very big shakeout move where the price action will decline back to the center mid dashed line, where final support may reside. If the dashed mid line fails to hold support then there are bigger problems. Below is a weekly chart for the US dollar which shows the price action testing the mid dashed center line.

usd-weekly-mid

The $US dollar daily line chart.


The daily chart below shows a potential downtrend channel with 2 blue consolidation patterns. If the blue bearish falling wedge is a halfway pattern to the downside the blue arrows shows a price objective down to the 96.20 area, which is labeled impulse move. The breakout to breakout price objective is a littler lower at 95.45. Those 2 price objectives come in pretty close to the mid dashed center line on the rectangle pattern above.



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Currency

Charts of the Day - Dollar 3 Year Cycle Low

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Posted by Gary Savage - Smartmoneytracker

on Monday, 22 May 2017 07:14

The dollar is now 4 days into its final bloodbath phase. This phase usually lasts 5-7 days. We should get a bottom this week.

COTD1-1



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