Tag Archive for: $USD Index

forex

What’s in Your Wallet

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U.S. Dollar Index

The advance this past week exceeded the upside price target of 92.38 and I exited my long position. I will monitor this market for a possible continuation pattern. I believe the U.S. Dollar Index will continue to trend higher. Factor is flat.

 

Forex Factor Peter Brandt

 

Aussie Dollar

The dominant chart construction is the completed 28-month channel on the weekly chart. The general targeting rule for a channel breakdown is that prices will travel a distance equal to the width of the channel (see red parallel lines). The channel is a diagonal pattern – and thus is more difficult to trade than a horizontal pattern. The Factor Tracking Account is short AUD/USD.

 

Forex Factor Peter Brandt

 

 

USD/TRY (Turkish Lira)

The dominant chart construction is the completed 14-month Cup and Handle pattern. Factor is long. I tightened my stop late last week and fully expected to be stopped out. The protective stop survived Monday’s dip and the rally on Tuesday completed a 2-week pennant.

 

 

Forex Factor Peter Brandt

 

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
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checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

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A Collection of Member Q&A’s

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Member Q&A's with 40+ years of insight

 
The below are just a few (of hundreds) Q&A's we receive at the Factor Service.  We thought you might find some of these helpful.
Question:Peter, could you condense as briefly as possible the approach you take to trading? Read More
US Dollar Index - Peter Brandt

A Possible Turn in Direction

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$US Dollar Index

The US Dollar market continues to form a 3-month inverted H&S bottom on the daily graph.  I have been anticipating a right shoulder low for late October, so have I was hoping for a bigger dip into the right shoulder low.
I am earnestly seeking a buying opportunity in this market and will go long on an upside completion of the H&S bottom.
 

Significant Factor Alert – Sep 20th

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This has been a remarkable week in the markets I have been following and featuring in Factor Updates and Alerts. I have established four different positions this week -- and it is only Tuesday -- so I figure an Alert is appropriate.
Cotton -- the rally today completed the inverted 6-week H&S pattern that has served as the retest of the underlying 2-year double bottom. I initially had a stop order in place, changed it to an alert early today, then bit the bullet and bought the market almost an hour after my alert flashed. I believe the market is now poised to trend to the initial target of 78.48 with the low 90s a possibility.
Read More
bullish on the US dollar index - Peter brandt - Factor Trading

Bullish on the US Dollar Index

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US Dollar Index

I remain bullish on the US Dollar index. Like every other chartist in the world, I am well aware that the DX penetrated the important line of support at 93.00 this past week. I had absolutely no desire to short the apparent breakout of this level. In fact, I believe the decline below 92.00 was a gigantic bear trap – bringing in new shorts and washing out stalled longs.

A chart showing the recent CFTC COT data is also shown. Commercials have the smallest short position and large specs (hedge funds) the smallest long position since June 2014 – the month of the last major low in the DX. I am willing to “bottom-pick” DX should the 93.10 level be retested. My goal is to establish a 60 BP position near the lower boundary of the rectangle in DX. My long term target in DX is 120.00. Along the way I would like to build to a 100 to 150 BP position.

 

$USD bullish on the US dollar index - Peter brandt - Factor Trading 1

 

$USD bullish on the US dollar index - Peter brandt - Factor Trading 2

 

$USD bullish on the US dollar index - Peter brandt - Factor Trading 3

 

Factor Membership is now available.  You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.   Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about.  For more information, visit the home page here.

I hope you will consider joining the Factor community.

 

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Factor Update, May 1st

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This content is for members only

Factor Update – April 24th

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This content is for members only