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Whence the Dollar?
The USD made a bullish cross ( 50 DMA moving above the 200 DMA )
while the EURO made a bearish cross ( 50 DMA moving below the 200 DMA )
Although not yet certain, one would be justified in expecting an upward trend in the Dollar.
Gold and the Dollar can sometimes move up or down together, but more often they move in opposite directions.
$USD – DAILY
EURO – DAILY
These bullish and death crosses have become so mainstream and publicized over the last few years that they have become almost meaningless as an indicator for all markets. Use to be a good trading tool, now it’s basically a coin flip as to what happens to the underlying asset after the cross.
Thank you for your post SilverFox. I always like your sophisticated charts. Your HUI ribbon is still my favorite. Ignore the blabber mouths.