Loading ...Dollar Milestone Upon Us
It’s all in the chart. MACD falls below zero at point 1, followed a few months later by TRIX at point 2. This coincides (on all 4 red lines), with the break below the uptrend lines on the indicators. It looks to me that the dollar has a date with the zero line and a break below the uptrend line in July. If that happens, it will give me a very high degree of confidence that we’re on course for the 80 region (albeit, a few months later than I originally thought). I believe Graddhy (on Twitter) has been expecting it to happen by the end of the Summer. If it doesn’t happen, and TRIX bounces off the line, we have a whole different scenario unfolding. We’ll know sometime in July/August.
Nice visual Northstar.
As always the Dollar is the chart to watch
Cheers Fully. It has a bearing on all markets really, and although gold can rise along with the dollar, it helps to have it falling.
I think the dollar index is an artificially derived number, determined by planners and not markets, and is not a reflection of either actual currency strength or comparative strength. In the final analysis, I suspect it will be totally irrelevant to PM values. As NS said the other day, it’s a race to the bottom for currencies. In the very short term however, I can see how changes in the dollar index affects the various fiat currency price of PM’s. So if NS has 1oz of gold in London, and I have one ounce of gold in NY, I can say that I’m richer because my ounce went up in dollar terms while his has gone down in Pound terms. In reality though, we both have the exact same wealth. Good luck all!
Well put CT.