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Sorry Kids…But for the life of me…I don’t see why there are so many calls for the USD to be “toast”
IF it breaks thru the top of this wedge it is going to FLY !
Rambus teaches that these kinds of wedges usually break higher in a “fast moving” trend
Its like a strong “running” correction.
Hope I’m wrong but…Heads Up !
Armstrong’s Socrates says only a close above 1362.50 on a monthly opens up the possibility of higher prices. 1370 intraday indicates higher prices may hold regardless of what would be temporary drops after that. Socrates sees inflation beginning in January. Also, when gold finally takes off, maybe this summer or the beginning of next year, it should be a whopper move. Armstrong’s been right so far this year in saying gold is a buy.
Unfortunately, gold going up would be helped by war with Iran. That is a nightmare too frightening to contemplate.
So you are bullish the dollar then?
If this wedge breaks up..definitely
Right now just potential
Everywhere I look it seems EVERYONE thinks gold is going to the stratosphere. I get constant email from various people saying that, and all the sites I peruse say the same. Only one player seems to think its going down.
Does your Euro chart confirm for you that the dollar will rise?
Nothing is confirmed.
Just using this UUP chart to show the Dollar is NOT Toast….its still in a bull move
If this wedge breaks up ….that will be confirmation of a strong dollar move IMO
meant, help confirm. What does Euro chart say?