Dollar Index Support Area To Watch
we've discussed the dollar index a ton here over the past few months and noted the breakout of the downtrend resistance line in early September. In conjunction with the EUR/USD previous post on EUR/USD it is conceivable for the dollar to give up more gains in the near-term and an interesting target area to us […]
Long FXE (EUR/USD)
we are long FXE for a Bucket 2 trade targeting 1.38. europe news may have reached a near-term negative extreme that could lead the euro to rally a bit here…before eventually then dropping again.
Profit Taking In IWM and CSCO
we closed the rest of our B2 long position in IWM this morning. CSCO hit our first profit target this morning and while our long position in the stock is a Bucket 3 we took a little profits…just good risk management and clears the head.
Update on EUR/USD…Long-Side Opportunity
the steep drop from 1.45 down to 1.315 on the EUR/USD cross might have been a little too steep. A 50% retracement of that move would take it up to near 1.384. we are considering a long position in FXE up to the 1.38 target on EUR/USD. also, there is significant divergence in the stochastic […]
Morning Thoughts Friday October 7
Stocks yesterday again closed at their absolute highs…third day in a row now. Volume was OK but nothing great. Commodities too rallied with Crude Oil again above $80 and copper nearlq 10% off its lows from earlier this week. Gold and silver are trading in a narrow band at the moment and we need to […]