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Euro long as a contrary play

Prophet.net Note the upsloping daily RSI from very oversold conditions. Sentiment remains highly negative, so any upward movement would surprise the majority of traders and possibly result in a...

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God save the Queen

The Aussie and Loonie lead on the way up, and they are now starting to wobble. This doesn’t mean their tops are in, but it means we should be on the lookout for a turn: . Prophet.net

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AUD turning lower?

Prophet.net The CAD and NZD look basically the same as the Aussie. Incredibly, the Euro may not bounce much more at all, but continue to slide, just like the dollar did for so long.

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Sympathy for the euro

Sentiment is still really lousy and downside momentum is waning. This is the same condition that persisted in the dollar from August through November before violently clearing. No telling how long this...

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Yen to test the highs?

Don’t sell short the Yen just yet. It is wedging up to the highs and still seems to find a bid when stocks fall. I noticed this large wedge on the USD.JPY 5-year: Interactive Brokers A breakout of that...

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Contrary play of the month: Long EUR, Short Gold

Sentiment in each of these markets is as lopsided as it ever gets, with over 20 gold bulls for every bear and that many euro bears for every bull. Levels have remained extreme for 2-3 weeks now with no...

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Swiss franc oversold and overbearish vs. USD

The franc has taken a beating against the dollar, since it pretty much behaves like a slightly harder euro. Here is an hourly chart (click to enlarge): TD Ameritrade Sentiment readings have been super...

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The dollar’s going to crash, the dollar’s going to crash!

Uh, it already has. The time to be shouting about a crash was 2000, but the dollar-crash meme only got mainstream in late 2007. As you can see in this 10-year chart of the trade-weignted dollar index,...

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Silver superspikes: dollar-bullish, and they don’t last

First, the 25-year monthly chart: - Here’s a chart that goes back further but only goes up to 2010 (I couldn’t figure out how to get barchart.com to draw me the whole thing, but you can just use your...

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Rumors of dollar’s death greatly exaggerated

Sentiment is still very anti-dollar (though not as extreme as last February-April), but the index is no lower than a few months ago, nor even a few years ago. Despite all of the dollar-crash and...

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