Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The Forex Markets Are Getting Exciting!

Currencies / Forex Trading Jul 26, 2016 - 12:53 PM GMT

By: EWI

Currencies

Our Senior Currency Strategist explains why

Jim Martens, the editor of our Currency Pro Service, gives you a preview of what's going on in the FX world post-Brexit.

Watch this new interview to learn which markets Jim's keeping his eye on.


P.S. Below the video, look for details on instant, free access to Currency Pro Service forecasts now through July 22, as part of EWI's Forex Free Week.

[Editor's Note: A text version of the interview is below.]

Alexandra Lienhard: I'm Alexandra Lienhard for ElliottWaveTV and today I'll be talking with Jim Martens, Elliott Wave International's Senior Currency Strategist.

But a brief editor's note before Jim joins me: Elliott Wave International is currently hosting its popular Forex FreeWeek. Be sure to check out the link below to get free forecasts for 11 popular FX pairs, now through July 22.

Now Jim, onto today's interview. We're living in a post-Brexit world. In your view, did forex markets change since the vote, or did Brexit not really have an effect on FX overall?

Jim Martens: Well, from my point of view, it made no difference, overall. We've spoken about this in the past: We expected the recovery in cable from May to prove corrective -- and it did. Markets started back down right after the result of the vote were announced. It was a sharp, almost historic decline. There was a lot of chatter about. But it was something that we were expecting all along. In our minds, it made no difference at all. The market was headed where the market was headed. Regardless of what news came out in the marketplace.

Alexandra: And in recent analysis, you've been stressing the British pound, the yen and the euro. Anything standout for you in those specific markets? Or as a group?

Jim: Well, they're all at interesting positions. I believe the dollar is resuming a broad-based advance relative to all its competitors. We look at cable, for instance, to start with. We'll see that it's gone nowhere in the last few weeks or so. We had that historic move after the vote and it's held its ground since, but I think that's just a pause in a larger downtrend. So again, it's no change in our thinking there. And when I look at something say, like euro/dollar, which is popular amongst traders, we look at the same sort of thing. It's been going nowhere, there's been a lot of volatility, which really stretches back more than a year now. We've been tracking it and calling the ups and downs of the market, but I think that's coming to an end, and there's going to be a substantial move ahead. It could be underway, and if it's not already, it's soon to start from nearby levels. The markets are getting quite exciting from this point on.

Alexandra: So let's broaden out. Looking bigger-picture, what are you watching? What are you keeping your eye on in the months and quarters ahead?

Jim: Well, one market where our view has changed has been dollar/yen. We've been looking for a bottom, yet the market has continued to decline. We failed to see evidence that the turn had occurred, and I like to wait before I change my view, or change my opinion of the market trend, until I see evidence that a change has occurred. But we may have finally seen that in the last few weeks. It has rallied sharply, so I put that back in the camp of dollar strength. If dollar/yen is advancing, that's dollar strengthening, that's the yen weakening. So it's falling into place in the rest of the picture, as I see it. And that is that the dollar is going to be strong going forward. That's going to be the story. You're bound to hear about that over the coming months. We'll hear about it on the equities side, that it's pressuring corporate earnings, and what are we going to do about that. But it's going to be a broad-based move relative to all of its competitors.

Alexandra: Well, FX has always been one of the more volatile asset classes out there. Thanks for chatting today, Jim.

Jim: My pleasure, Alex.

Alexandra: Now through July 22, you can get free access to our premium grade Currency Pro Service during Forex FreeWeek. Follow the link below to get free forecasts for 11 popular FX pairs.

Thanks for watching ElliottWaveTV.


Now through 5 p.m. Eastern time Friday, July 22, get FREE unrestricted, 24/7 access to intraday, daily, weekly and monthly forecasts -- including charts and videos from our premium-grade Currency Pro Service.

Currency Pro Service's team of currency experts brings you forecasts for 11 popular FX pairs: EURUSD, USDJPY, GBPUSD, U.S. Dollar and more.

Get Free, Instant Access

This article was syndicated by Elliott Wave International and was originally published under the headline Forex: "The Markets Are Getting Exciting!". EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Regards,

About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in