CAD$ at Resistance & Bulls At All-Time High

The chart below shows the CAD$ at resistance line (1) with crude facing resistance line (2). At the same time the % of the public that is bullish the CAD$ is now at ~85%, an all-time high rivaled only in…...

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Any Chance the Draghi Put is Now Priced Into the Euro & Corresponding Risk Assets in the Near-Term?

Any Chance the Draghi Put is Now Priced Into the Euro & Corresponding Risk Assets in the Near-Term?

All the way back on July 10th we highlighted the fact that the Euro sat on very critical support levels when it stood at ~1.21, some 600 bps lower than the current ~1.29. We noted that if one were risk-asset bullish…

This European Bank Could Provide Clues to the Next Big Move in Broader Risk Appetite

The chart below reflects that shares of NBG are caught in a tight consolidation pattern between lines (1) and (2). And though NBG trades in the low single digits now, we still believe its shares carry a good deal of…...

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Gold & Silver Approaching Resistance as USD Nears Support

Gold & Silver Approaching Resistance as USD Nears Support

In the chart below we plot Gold, Silver and the USD on a weekly basis. Gold and silver are both approaching stiff resistance dating back to their 2011 highs. At the same time, both are nearing the completion of descending…

USD Finally Going to Find Support & Bounce, Hurt Precious Metals in the Process?

USD Finally Going to Find Support & Bounce, Hurt Precious Metals in the Process?

We’ve been broadly bearish on the USD since May. We’ve outlined the justification for that stance in various posts in the recnent past here and here. In a nutshell, from a statistical standpoint, history told us that the USD’s recent…

Aussie $ Appears to be Fading at Important Test of Resistance

Aussie $ Appears to be Fading at Important Test of Resistance

Chart below is of the Aussie $. In May it broke down from a long-term, bearish ascending wedge pattern formed by lines (1) and (2). Line (1) ran across its highs from 1995 onward while line (2) ran underneath its…

Short Yen Trade a Decent Opportunity with Clearly Defined Risk Paramters?

Short Yen Trade a Decent Opportunity with Clearly Defined Risk Paramters?

We’ve commented over the past few months one time about the Yen increasingly looking like a decent short opportunity. That said, it wasn’t yet clear the technical set-up was in place to actually execute the trade with any conviction. This…

USD at a 2 Year High…What now for the Currency & Global Risk Assets?

On July 13 we asked if the USD was about to begin running into trouble given that it was about to register a two-year closing price high. We asked this question because somewhat counter-intuitively, when the USD has been printing…...

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Time to Pay Attention to the Swiss Franc? Sniffing out More Global CB Intervention? About to Cause a Precious Metals Rally?

First chart is the Swiss Franc alone. Note that it’s approaching long-term support line (1) in the 0.98-0.99 area.  Also note that this is 50% Fib retracement support. Also note that it is along line (1) where, for whatever reason,…...

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USD About to Run into Some Trouble?

If the USD closes above 83.83 today it will register a 2-year closing high (genesis for this idea came from a Chris Kimble post yesterday, though his conclusion appears different). And clearly, even if we fail to do this, it…...

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