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It looks dire for Uncle Buck….but don’t count him out just yet.
I know…what about cycles !!
I have little experience with them and understand they are very helpful ( Thanks to the Cycles Master
Surf City) ( everyone else is just a wannabe IMO)
So these charts will ignore the cycles at my own peril I’m sure some would say…………
Monthly ( This chart says 88 by March(ish) is doable and still puts the Buck in a LT Bullish Posture
What would this look like on a Weekly ?
That would be a kick in the nads eh
Disclosure …I am loaded up with Rocks….but watching as always for clues
John Candy was a hoot in that role! 🙂
Interesting the opinions of this market vary depend widely on peoples geographic location ie Fiat Currency bias
IMO investors need to confirm if recent Gold action is the result of a Commodity or a Currency or both. $COPPER went down last week despite all the $US currency movement? If $GOLD is in a commodity bull I expect it to be going up relative the EURO it was until last week then it went down starting Jan 8?
Interestingly Fully in your Fractal 0f 97-00 that was the base that kicked off the previous commodity Bull in Gold? IMO Commodity Bull or Bear price action has a greater effect on the PM’s than currency action.
Good Eye Red…Looks like the Gold Bull began with the us Dollar making its final run to 120 in 200-2002
Interesting
Yes we should always look for clues and challenge our beliefs. it is very healthy.
However, when looking at the charts and factoring in things like Trump’s desire for a lower dollar and the introduction of the petroyuan (Jan 18).
The petroyuan if successful could take market share away from the dollar and the euro. Also, China has recently announced the establishment of a yuan-rouble payment system, hinting that similar systems will also be in place in the near future. Pakistan’s central bank has announced that public and private sector enterprises may use the yuan for bilateral trade and investment.
Currently GCC (Gulf Cooperation Council) oil sold to China is priced and settled in the US dollars, through dollar-regulated clearing banks. Should the GCC should adopt the petroyuan it would certainly weaken Uncle Buck.
So after all the above I open XE.com and early indications are the EURUSD down and UDJPY up.
If thias happen bad news for PM longs