The first week of the year 2017 ended with a shakeout on both directions. The market has made a new Weekly High first, declining back to take out the Weekly Low. The Dollar Index continues to crawl up on the higher timeframes. The current pattern on the Daily is a megaphone pattern (Taking out Highs Read More
Author: Gil Ecker
Like the main stock markets, the Dollar Index ended the year 2016 with a minor retracement week. It was the first Weekly bar not to touch the upper Bollinger band, after 12 (!) successive weeks. The prices declined finally into the open gap on the Daily timeframe, below. The Daily bullish setup mentioned in the Read More
A relatively narrow range Weekly bar has been printed before the holiday, but still a HH HL bar touching the upper Bollinger band, meaning that the momentum is still very strong, and nothing has changed much as for the nearest targets. Currently there is a bullish signal on the Daily timeframe, last Thursday’s bullish pinbar Read More
The passing week ended as a bullish Weekly pinbar on sloping 8 EMA, and as mentioned in the last review, a thrust up above its High is a bullish signal to reach its magnitude distance, at 104.1, a move assumed to be already under way. This target at 104.1 is slightly below the 138.2% extension Read More
We’ve passed one of the more volatile weeks. Prices declined sharply on last Monday after making an Upthrust, then after two days of consolidation came a major Spring (false thrust down ending very bullish) pushing the prices back to the levels of the beginning of the week, creating a Weekly bullish pinbar on sloping Weekly Read More
A consolidation week has passed, the Daily LLBH (Last Low Before High) at 100.71 was taken out, and taking out the Low of 100.675 is a bearish signal to reach the 99.6 level area. However, the current overall bullish momentum should warn us from taking any action to the downside on the Daily and above Read More
The Dollar Index made another HH HL Weekly bar, penetrating deeply the upper Bollinger band, but with a clear shortening of the thrust. The Monthly bar that is going to close by Wednesday, has already penetrated its upper Bollinger band considerably, a very bullish picture. Pay attention that the last thrust up on last Wednesday Read More
Finally, the Dollar Index made a new Yearly High. Typically, after taking out the Yearly LHBL last year, it would have been much more common to see a correction of about a year before continuing higher, but this turned out not to be the current case. This is also a break up of a Semiannual Read More
The long term untypical positive correlation between the Dollar and the US main stock markets that has been here most of the time for the last few years (as part of the QE manipulation) proved to be still valid throughout the passing election week. Just like the stock markets the Dollar Index has started the Read More
The Dollar Index has made a sharp reversal down over the passing week. As expected before, it took out a major swing High (98.595) on the week before, reached the semiannual upper Bollinger band and then reversed. From the Daily and above timeframe’s price action perspective, the market didn’t give any good signal to go Read More