Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Close with Modest Losses but Miners Gain on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 24 2017
By: Ira Epstein

Life Under Manipulation
By: Theodore Butler

Legendary investor names his top junior resource stock picks right now
By: Peter Spina, President, CEO of GoldSeek.com & SilverSeek.com

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

Taxes, Macro Signals, Seasonality, US Stocks and Gold Miners
By: Gary Tanashian

The Key to Profitably Ending Precious Metals Price Suppression And Other Markets Manipulation!
By: Deepcaster

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

 
Search

GoldSeek Web

 
USD; Daily, Weekly, Monthly & Conclusions


 -- Published: Friday, 26 June 2015 | Print  | Disqus 

By Gary Tanashian

USD has been in correction since the hysterical March top. The daily chart shows a series of lower highs and lower lows that was interrupted last week when USD failed to make a lower low, Hammered and bounced… right to the EMA and SMA 50’s.

So we remain on watch for a) a higher high or b) a lower low. It’s very simple. As it stands, the near-term is bearish until it proves bullish, not the other way around. That is because the existing trend is down (AROON, bottom Panel).

usd

USD weekly is interesting as its price remains above initial support, it’s oscillators are still positive, but it is forming an ugly looking pattern with a target of 85, to be activated if the support area around 93 fails.

usd.wk

USD monthly shows the 3 support levels that can contain Uncle Buck’s correction. So again, the ugly weekly pattern is key because if current support is lost, the buck is probably going to eventually work its way down to 85 based on pattern measurement.

Note however, the moving averages (EMA’s 20 & 40) that have crossed for the first definitive bull signal since they crossed down in 2003. Such a signal is not likely to be undone any time soon and so it is likely that USD is in a cyclical bull market.

usd.mo

Bottom Line

USD daily is in a downtrend but is bouncing. A higher high to May would put it back on a bullish path. A lower low to June would break the weekly chart’s neckline support.

This in turn would activate a measured target of 85, which would put a big bounce in the step of the beaten down commodity sector and general ‘inflation trade’, including precious metals* and certain US and global markets that benefit from a weaker dollar (to varying degrees).

On the big picture (monthly), Uncle Buck is still bullish. A hit of 85 down the road would be a ‘buy’ on USD, which would mean a ‘sell’ on commodities, certain global markets and the whole constellation of items that are generally anti-USD. But that could come after a cyclical bounce (and an extended trade) in the anti-USD stuff that could fool people into thinking the commodity bull has resumed.

The daily chart is the gatekeeper for all of this, so we should wait for its signal.

* As always, we note that the best scenario for a real bull market in the gold stock sector is economic contraction and gold’s out performance to commodities. So the dynamics of any such inflation trade would have to be watched closely to determine whether the gold sector would be a ‘sell’ on the rally or whether it is at the beginning of a new bull market. The gold stock sector is very capable of doing well on the big picture with a strong USD, which is just what USD’s big picture view happens to be.

NFTRH.com and Biiwii.com


| Digg This Article
 -- Published: Friday, 26 June 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.