DollarsNSense

DollarsNSense

It's no secret that Bitcoin has been the Big short of the Year, but my opinion is that things are about to change. We are now seeing the signs and signal of reversal that we have been long waiting for. The inverted Head and Shoulders on the 4 hr chart is a classic reversal pattern and anyone who knows me will know it as one of my favourites. The ideal area to...

DollarsNSense

The strength of the Dollar is undeniable. All currencies are losing out to the power of the Greenback as it seems to be able to absorb all the tumultuous moves in the Market right now. Bitcoin is suffering as are all others. This being said we are on an are of significant support on Bitcoin and I am looking for Buy signals in this area. July's Bullish piercing...

DollarsNSense

The FTSE 100 is still flushing out the over confidence of the Bull run. There's no doubt about it, The FTSE 100 has seen some amazing gains so far this year. Negative global aspects are playing out here now though and now issues in Turkey are taking centre stage. As with the North Korean situation and the trade wars, I am seeing this as a buying opportunity. The...

DollarsNSense

There's a different complexion over EUR/USD this week with the long term Support Trendline succumbing to gravity last week and price struggling to climb back atop 1.16000. This is of course the level of the day, if not the week and I'm trying to hold on to my medium term vision of the pair hitting 1.2000 - perhaps it was a dream? The facts are that a potential...

DollarsNSense

The FTSE opened with a gap to the upside this morning. Gap's most often do one of 2 things. Firstly we can get a gap and go which is indicative of an aggressively confident sentiment, of we gat a gap and fade which closes the gap leaving the question of direction somewhat in the balance. This morning's Gap and Go made buying into the market a tricky prospect as...

DollarsNSense

EUR/USD fell short of my 1.1709 bounce point yesterday, being intercepted by 1.1700 the figure. What happened next was pretty much as the crystal ball foretold, albeit much slower. Indeed price is yet to find 1.1625 but is quite near to my range bottom, which puts me on Full Alert. Any sign of reversing the short term Bear Trend will be treated most seriously and...

DollarsNSense

Always nice to begin a new Month, even if its start IS filled with landmines (major news). Of course the BIG news events provide us with potential fresh outlooks and I think by week's end, EUR/USD will certainly have that. Price played out beautifully yesterday with a DELIGHTFUL bounce off 1.1745 Resistance to first target 1.1690. I can't see the pair continuing...

DollarsNSense

HAPPY NEW TRADING WEEK - a busy one at that with lots of big ticket News items. Add to that today is the final day of July and I start to think BURGLARS! Well, it works like this......EUR/USD has been refusing to break OUT of the range between 1.1640 and 1.1725 since it became embedded there, almost 3 weeks ago. I have been attempting to catch a Long breakout...

DollarsNSense

Bitcoin has already successfully put in and played out an Inverted Head and Shoulders and now looks set to go on a fresh run. We can make no Bullish predictions about the longer term fate of Bitcoin and if anything, at this stage it's probably more balance to a long term SELL than BUY. In the near term however, it looks like a buy, we have broken though daily...

DollarsNSense Updated 

Could this be the beginning of EUR/USD's expected (at least by me), run to 1.2000? Yesterday's rejection of 1.1700 looked ominous for the Bulls but that key level of 1.1680 turned things around and the 1.17's were back in the game. For the last three weeks price has tried and failed to break above 1.1750 and I expect today, a fourth assault will be successful pre...

DollarsNSense

It's a little tough to get EUR/USD away from the pivots at the moment with all three DP/WP/MP in a huddle at the point I nominated as key level yesterday (1.1680). It was certainly that, price opening 10 pips above and closing just one pip away. Such is the ranging nature of the pair currently, price is STILL within a couple of pips and seemingly glued to the...

DollarsNSense

So much is still happening in the Market and yesterday we saw another day of volatility off the back of a spat between Trump and Iran. The problem for Trump arises from overusing threatening language will eventually result in getting used to it as Hot air and Rhetoric. Given this view, we may now be able to focus on the Fundamentals rather than geopolitics. With a...

DollarsNSense

Try though I might to entice EUR/USD back to 1.1800 and beyond, market forces (perhaps the dark side) keep denying the EURO as it continues to range between 1.1600 & 1.1700. By now you would think I'd be used to Sellers controlling the first half of the week because it's a recurring theme since 1.1500 was tested and rejected, on May 29th. Today, Support around...

DollarsNSense

Most of Thursday looked a whole lot like most of Wednesday and the price to Buy EUR/USD kept getting better and better until 1.1575 triggered profit takers and the week ending buy up began. 1.1800 proved a bridge too far however and I'm of the belief that 1.1700 would like a kiss goodbye, before the next leg North gets underway. I confess to being a Mondayitis...

DollarsNSense Updated 

In our first post we said BTC had shown its first REAL Bullish signs and we needed to be patient. The bullish run is now confirmed with us also above a long Term Trendline. This is where trading skill and experience comes in. The longer it goes up, the stronger it looks the more the amateur wants to buy it. But the more the professional knows that price us...

DollarsNSense

The rally off 1.1725 I was seeking yesterday was much like the Trump backflips this week - too little, too late! That it came at all, after UK Session caned the Euro was a Bullish sign for my money. For seven of the last eight weeks, sellers have been trying their socks off to sink EUR/USD below 1.1600 and they have failed, despite the pair trading below that...

DollarsNSense

The selling opportunity could still be on from what was discussed a couple of days ago. If it is the case, this is a great area to look for those opportunities. The Daily Pivot is providing support and there is also a level at 7660 which will need to break and hold to give us a chance of a significant move. Brexit continues to weigh heavily on decisions for the...

DollarsNSense

The FTSE Still flirts with a breakout and this area may prove to be a decent selling opportunity. We are at or near the higher end of the range. The big thing here is WHY? We have seen the markets weaken off the back off specific incidence recently and it appears, so far at least, that those incidence do not exit today. I will be looking to see if initial weakness...