Do you ever feel, well, flabbergasted at all the news and gossip offered up in the mainstream media about the US dollar (or any market for that matter)?
One day, it’s nothing but doom and gloom, with reports that some UN committee or other is proposing that the dollar be replaced as the world’s de facto reserve currency. Then the next, the buck is suddenly surging, gaining more than 400 pips against the Euro in just over a week (as
happened to the November 3rd low @ 1.4627).
So if the greenback is so sick, why the surge?
In our weekly forecasting service Forex Profits with COT, we’ve long been preparing for a dollar bottom; and for reasons, I might add, that have nothing to do with mainstream thinking. More than that, we’ve been noting the important correlations that exist between the dollar and other
bellwether markets (most notably the Dow), and been preparing for the significant trend changes that a US dollar bottom will bring about.
As a sample of the type of analysis we do each week for 13 markets (10 currencies and three bonus markets), I’d like to invite you to view this complimentary video presentation.
In this review, we look back at the latest USDX weekly forecast posted for
regular paid subscribers on Saturday October 31st, compare to actual price
action as it unfolded this week, and offer up some thoughts and trading
pointers as to where the market is likely headed from here. Potentially
useful information for whatever Forex major pair you trade.
I hope you enjoy the presentation.
To Your Every Trading Success,
Frank Paul
& the Forexmentor team
