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Jay Norris
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Jay Norris is a 20-year CBOT floor veteran, author of the Best Seller "The Secret to Trading Forex, Futures, and ETFs: Risk Tolerance Threshold Theory", "Mastering the Currency Market", McGraw-Hill, 2009, and "Mastering Trade Selection and Management", McGraw-Hill,... More
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Trading University
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Seeking Alpha
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The Secret to Trading Forex, Futures, and ETF's: Risk Tolerance Threshold
  • Weekly Buy Signal In U.S. Dollar 0 comments
    Aug 29, 2013 5:14 PM | about stocks: UUP

    The list of reasons for buying a market can be long and legitimate, but until that market is good and ready to move it is just not going to move. Such is the case currently with the U.S. Dollar index. Many reasons to favor the Greenback over her trading partners such as GDP growth -- today's forward number came in at a healthy and surprising 2.5% -- and new found energy independence -- despite stubbornly high international oil prices the U.S. Midwest is enjoying relatively stable prices. Likewise lower grain and feed prices, and the possibility of a bear market in gold combine to benefit a dollar rally.

    (click to enlarge)

    And as is most often the case when the planets are starting to align for a market, or a group of markets, all that is needed to light that candle is that technical signal. Should the U.S. Dollar index hold today's gains into the weekend it would give a technical buy signal on the Weekly chart after finding support at its 100-day moving average and our 1-year Risk Tolerance Threshold level.

    Jay Norris is the author of The Secret to Trading: Risk Tolerance Threshold Theory. To see Jay highlight trade set-ups and signals in live markets go to: Live Market Exercise

    Trading involves risk of loss and is not suitable for all investors!

    Disclosure: I am long UUP.

    Stocks: UUP
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