Well, here it is. EUR/USD is pretty gross A drop below the SMA 200 and lateral support, now turning to resistance as a bear flag curls down from it. Not good until/unless it claws back above the SMA 200. For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed interim market updates … Continue reading EUR/USD… want to see something gross?
As you may know I took on the EUO Euro short again yesterday in order to hedge a potential US dollar bounce. A new leg up in USD would impair or pressure precious metals, stocks and commodities to varying degrees. Aside from my positions in precious metals, stocks and commodities I also consider it a hedge to the long positions in GBTC (Bitcoin tracker). So … Continue reading NFTRH+; Watching EUR/USD
Well, a little patience goes a long way. I declared my wrongness for all to see because I like to do that. It reassures me that people will not view this site or the NFTRH service as something it is not. Others may market special powers purposely. I don’t. I market hard work and attention to detail. Anyway, here’s the Legarde-backed Euro pulling back in-day … Continue reading Was, Not Was… Wrong on the Euro
Here once again is one of those pleasurable moments where I advertise to you in big bright blinking lights that I was wrong about something. I have hedged (short the euro) a portfolio of long positions (stocks and miners) and a lot of cash in a very conservative alignment in order to keep 2020’s gains intact. Okay well, mission accomplished. But the ECB is out … Continue reading Wrong so Far on the Euro
As noted in NFTRH 616 yesterday, and with respect to the previous post about the Euro… I want to point out what looks like a buying opportunity for European readers. Gold dropped to the daily SMA 50 last week as measured in Euros. That is clear support. Testimonials A price increase will be in effect on September 1 ($38/mo, $390/yr). Subscribe to the value-priced NFTRH … Continue reading Gold in Euros
Per Sentimentrader, here’s the epic CoT alignment in Euros showing Commercial Hedgers burrowing southward in their net short positions. I patiently remain short the Euro against the Trump/Treasury/Fed Triumvirate (TTFT) that is trying its damnedest to see that position fail. If this logical long-term resistance area does not offer said resistance I’ll have to think about aborting the position. Testimonials A price increase will be … Continue reading Historic Commercial Net Short Euro Positioning
It’s been a long dirt nap for ole’ Uncle Buck. Down, down and down some more as the reflationary world has partied on with Wayne and Garth. The party has been punctuated most spectacularly by silver. While myself and much of the gold “community” try to figure out the meaning of the divergences in gold and especially silver miners to their metals and copper halts … Continue reading Uncle Buck Waking Up?
Hold up. Nothing goes straight down forever. America, under the guidance of Donald Trump is actively seeking out its bananahood, but the technical and sentiment situation has become extreme. I don’t know, you tell me. Is Uncle Buck able to bounce? Here is the DXY making a big candle from an oversold point. I shorted the Euro a few days ago and pressed that short … Continue reading US Dollar: Hold the Bananas!
Not only have gold and silver touched the target zones, they’ve smashed into and exceeded them. Gold hit 1974 (target: 1940) and silver hit 26.27 (target: 24-26). Unfortunately, they did this overnight (for US and Canadian markets) and so any adjustments to be made upon the firm registering of targets may have to come on a day that silver is pulling back (currently -.65) rather … Continue reading NFTRH+; Targets Solidly Registered… Thoughts on What Now
We have not checked in on the US dollar for a while, other than as part of last week’s monthly ‘big picture’ post showing Uncle Buck at long-term support. Here is the updated chart. The daily chart has Unc holding the SMA 50 for several days now. MACD is on an up trigger, RSI has ground its way to 50+, AROON is still down trending … Continue reading Beware Uncle Buck
If we are going to note potential support for the US dollar, why not also look at a potential limiting point for its main rival? I am just presenting simple monthly charts here and you are welcome to form your own conclusions in order to manage risk. Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; … Continue reading Euro Limit Upcoming?
After noting a re-buy of the UUP position on the USD pullback, a couple of sharp subscribers asked in essence “why UUP instead of adding more SHV?”, which sports one of my favorite charts. I did not really have a good answer, especially since profits had already been taken in UUP and the pullback I bought was not substantial. I guess I was speculating. Here … Continue reading Undoing the UUP vs. SHV Mistake
With the bottom and bounce stance on USD I feel I’ve been wrestling a bear. He’s got long, sharp claws and a gaping maw full of teeth and I’ve only got a brain (w/ contrary wiring), bare hands and a pop gun. Yet, if USD holds current support and turns up we are going to eventually see changes settle into the market landscape. He who … Continue reading Checking in With Uncle Buck
After reading the Macro Tourist and finding out I am not the only guy on the planet short the Euro I got the idea to reproduce NFTRH’s Currency segment publicly. Contrarian views using public sentiment and Commitments of Traders have been great for calling the Treasury bond market over the last year but so far in expecting the USD to bottom, firm and bounce… no … Continue reading NFTRH 457 Excerpt; Currencies