The king currency has finally hit the first long-term target of $114 that was set in the summer of a distant 2019 when it traded around $96.
That aim wasn’t clear then as the dollar index (DX) looked weak in the chart. The short-term structure was similar to a pullback after a heavy drop.
The majority of readers did not believe the DX would ever raise its head as you can see in the 2019 ballot results below.
However, I had found a bullish hint in a very big map, and I warned you “Don't Get Trapped By Recent Dollar Weakness”.
Back in August, you had already been more bullish on the dollar as you voted the most for the target of $121.3 in the earlier post. This confidence is due to the certain position of the Fed, which resolutely fights the inflation, lifting the rate aggressively round by round.
Let me update the visualization of the real interest rate comparison below to see if the dollar still has fuel to keep unstoppable.
The real interest rate differentials are shown on the scale B: blue line for U.S. - Eurozone, orange line for U.S. – U.K. and the red line for U.S. – Japan. Continue reading "The Dollar Has Hit The First Target" →
Hi guys, just back from vacation in Canada, had a great time. If you ever have the opportunity to get up to see the Canadian Rockies or ride on the Rocky Mountaineer I highly recommend it. Lake Louise one of the most famous spots in the Rockies because of its natural beauty still was frozen on June 1st. We also ran into many closed roads because of the snow.
It is good to be back and while I was away and see some of the markets have reversed, and some stay strong. Looking at the markets, I see that the strong upward trends in equities are continuing, and that's something we've been following for quite some time.
It also looks like the Gold (FOREX:XAUUSDO) market is now mixed, and the same goes for the Dollar Euro market. Strong trends persist in the crude oil market and will you be following these and other trends in today's video.
So let's get started and see what's going on in the markets right now. I will analyze the markets major and minor trends and share with you what I think is going to happen next week.
Every success with MarketClub,
Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Thursday, the 3rd of April.
Major Trend : BULLISH
Intermediate Trend : BULLISH
One lesson I learned a long time ago in my trading career was to never fight the trend. Trends tend to persist longer and go further than most expect. Yesterday, the Dow 30 gave a signal that it was once again resuming its upward trend, joining the S&P 500 in a positive trend. The NASDAQ is in a neutral and sideways mode. Watch today’s video to see my upside target levels.
Continue reading "Why Major Trends Are Important" →
Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Wednesday, the 26th of March.
It would appear as though most of the major indices have just been spinning their wheels and going nowhere fast in the past 4 to 5 weeks as they have all been in a broad trading range. This type of market action can lull investors to complacency, but for me it has always been a wake-up call to pay close attention to the market as something big is going to happen.
As I see it, the market is doing one of two things, it's either building a base to move higher or it's a distribution top – only time will tell which is the correct answer.
One of our members suggested that the Dow 30 could be making an inverse head and shoulders formation. Certainly this is possible, but I need to see a clear breakout to the upside to confirm this formation.
The other concern I have is the damage done to the NASDAQ earlier this week as it fell to a 6-week low. How this particular index closes on Friday is going to be very important in my mind. Again, I will be watching this market very closely for signs of either a continuation of the bullish trend or a top. Continue reading "Are The Markets Just Teasing Us?" →
Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Tuesday, the 11th of March.
The Dow Is Balanced
Looking at the Dow Jones Industrial Average (INDEX:DJI), you have half of the stocks in a bull trend and the other half in a bear trend, giving a very mixed picture and somewhat neutral look to the Dow 30. The question is, which side is going to win out, the bulls or the bears? As with any market, I will be watching the Trade Triangles for an indication of this index's next move.
Gold Adjusting To New Levels
After rallying over $150 from the lows that were seen in late December, the gold market has gone into a sideways pattern as it begins to readjust to its new trading levels of $1,320 to $1,360. At the moment, it would look like short-term traders should be out of this market and that long-term traders could hold on to long gold positions. I'm still see the Gold (FOREX:XAUUSDO) moving higher longer-term. Continue reading "Bulls or Bears - Who Will Win?" →