02/04/2015 – US Dollar
Issued: 02/04/2015
March US dollar index:
1. Today, Wed., Feb. 3 (+/- 1 day) is the next important daily market bottom in the March US dollar index. A multi-day advance is expected off this bottom.
2. A daily close today above $93.95 will place the March US dollar index into a ‘Buy’ position for a multi-day advance and test of $94.60 (or higher) into late this week/early next. Will update as the market continues to confirm.
David Williams
Issued: 02/04/2015
March US dollar index:
1. Today’s earlier March US dollar report indicated that today (Wed., Feb. 3 (+/- 1 day) is the next important daily market bottom in the March US dollar index. A multi-day advance is expected off this bottom.
2. The report indicated that a daily close today above $93.95 would place the March US dollar index into a ‘Buy’ position for a multi-day advance and test of $94.60 (or higher) into late this week/early next. At the time, the March US dollar was trading at approximately $94.18.
3. Late in today’s (Wed., Feb. 3) session the March US dollar advanced powerfully and completed the $94.60 upside target (session high, $94.70). Aggressive traders who took advantage of today’s earlier firming in the US dollar did well and should continue to hold any remaining long position for the possibility of higher prices.
4. A protective sell stop should be placed at $94.30. The stop will be move higher as the market continues to confirm.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.