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US Dollar Setting Up Another Rally

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Posted by Avi Gilburt - ElliottwaveTrader.net

on Friday, 01 December 2017 07:01

Screen Shot 2017-12-01 at 7.11.56 AM

I am actually quite surprised with reading many of the public articles and blogs focusing on the US Dollar of late. It seems many are again calling for the end of the world for the US Dollar. But, I have been seeing something quite different than most in the DXY chart.

I remember back in 2011, when the DXY was in the 73 region, and many were also calling for the death to the dollar at that time. But, for those following my work since I began publishing it in 2011, I was looking for a multi-year rally in the DXY, with a target for a 3rd wave in the 103.53 region. And, at the start of 2017, we struck a high of 103.82 to complete that 3rd wave before we began the pullback we have experienced since that time. But, admittedly, I was off by 29 cents in my multi-year call. (smile)

The DXY has been adhering to our Fibonacci Pinball analysis almost perfectly for years. And, our next larger expectation is for the DXY to rally back to the 100-101 region into 2018. The only question with which we have been grappling is if we see one more lower low before we begin that rally back to the 100-101 region or not.

Based upon the structure we have completed over the past week, it strongly suggests that the current decline is only a (b) wave in the first move up off the recent lows within the larger degree corrective rally back towards the 100-101 region.

As you can see from the attached 21-minute DXY chart, we are now moving down into our target region we set for the (b) wave of the larger degree green a-wave of the green (b) wave, as shown on the daily chart. And, as long as the market holds over the 1.382 extension off the high in the 91.70 region, my expectation is that this (b) wave pullback will set up the DXY to rally over the 96 region.

So, that means as long as we hold over the 91.70 region in the DXY, many may wind up quite shocked with the potential rally the DXY seems to be telegraphing it wants to set up over the coming weeks.

Alternatively, if the DXY should strongly break below the 91.70 region, then it certainly opens the door to the market making one more lower low before the next larger degree rally back to the 100-101 region begins in earnest.

See charts illustrating the wave counts on the DXY.

By Avi Gilburt, ElliottWaveTrader.net



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Currency

Bitcoin Price Cracks All-Time High of $10,000

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Posted by Ezra Dulis - Breitbart News

on Wednesday, 29 November 2017 06:08

Screen Shot 2017-11-29 at 7.18.55 AM

The price of one full Bitcoin (BTC), the original decentralized digital currency, officially hit 10,000 U.S. dollars early Tuesday morning, according to data from CoinMarketCap.

The blockchain “coin” began its latest rally after Black Friday, hitting an all-time high of $9,000 on Saturday, November 25, only to surge past 10k only three days later.

Soon after, the price dipped down to around $9900. At the time of this writing, BTC has risen back to $10499.00.

Why so high?

There are several likely reasons for this massive price surge.

First, a host of big financial players recently announced they will get in on the action. Most prominently, CME Group, the largest futures exchange in the United States, has signaled that it will allow BTC futures trading as early as mid-December. While it bodes well that many traditional investors may make the jump to digital currencies, a considerable number of them seem poised for a big short. The current price spike may indicate a buying frenzy to get in ahead of the short.

...continue reading reasons 2 thru 6 HERE



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Currency

Meet The World’s Most Powerful Bitcoin Backers

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Posted by ZeroHedge

on Tuesday, 28 November 2017 06:22

Cryptocurrency may be one of the biggest threats to governments, security and the entire financial system that we’ve ever seen. 

It can help fund terrorism and its anonymity makes it almost impossible to track. Most importantly, it is poised to revolutionize global finance and banking.

But our new Enemy No. 1 can’t be fought; it can perhaps be controlled. Banks have figured that out and are bringing crypto currency into the fold.

20171128 hack

The superpowers—U.S., China and Russia--will have to face the new reality. They love to hate it and hate to love it. Regardless, if they don’t embrace it, they won’t be able to control it. An enemy you don’t control is a much bigger threat.

....read more HERE



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Currency

Oil: Standing on the Launch Pad

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Posted by Clive Maund

on Friday, 24 November 2017 06:07

Oil Market Update

It’s a good time to take an updated look at oil, because the paradoxes we observed regarding gold and silver, which we looked at in yesterday’s new Gold and Silver Market updates are much more extreme in the case of oil.On the latest 5-year chart for Light Crude we see that oil has in recent weeks succeeding in breaking out of its giant Head-and-Shoulders base pattern at last. We also see that volume has expanded greatly over the past 2 years which is viewed as a sign of a completing bottom. Recent strong upside volume has driven both volume indicators to new highs, despite the price still being way below its 2013 highs – this is viewed as a very bullish sign, and suggests that oil will advance at least to the $80 area.wtic5year201117

......For the reasoning behind a sharp move up continue reading HERE



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Currency

Opinion: Jim Rogers says bitcoin ‘looks and smells’ like all other investment bubbles

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Posted by Jim Rogers

on Friday, 24 November 2017 05:58

MW-FY728 Rogers 20171120135819 ZHThe veteran investor provides a global roundup, with a preference for Asian stocks

At 75, veteran investor Jim Rogers remains as sharp and feisty as he was two decades ago when I first met him at Columbia Business School.

More importantly for investors in search of ideas — he’s just as opinionated. 

Like him or not, Rogers is worth listening to because he has a respectable record. Sure, he makes mistakes. Most recently, he regrets not buying bitcoin ahead of its massive run-up, as a lot of people do (including me).

But he famously made a bundle alongside George Soros in the Quantum Fund. He also made a great call on commodities in the late 1990s when he turned bullish ahead of an extended bull run, and set up the Rogers International Commodity Index (RICI). 

Given his experience and record — and all the uncertainties in the world — I recently checked in with Rogers in Singapore, on what to buy and what to avoid. Here are the highlights.

....continue reading HERE

 

also: The longtime Asia bull and Quantum Fund co-founder thinks the worst bear market of his lifetime is coming. He swung by our Hong Kong bureau to discuss the risks, as well as Trump’s Asia tour and why America could become its own worst enemy if it lets China dominate the region.

Breakingviews - Exchange Podcast: Jim Rogers

Breakingviews - Exchange Podcast: Jim Rogers

 



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