Is the US Dollar about to collapse?
I've been following the progress of the $USD index for many years and I've just noticed that it is now at a very pivotal point (i.e. touching the 50d MA (see chart above). If it falls and stays under this level (i.e. currently around $92.50) in the next few days, then I think it's days are numbered. However, there is a small chance that it could bounce back up from this level. With so much turmoil going on in the USA, I would not be surprised if does collapse.
Which way do you think it will go and why ?
It's inevitable jmsm2, there's always bailouts that mask the problem in the short term but long term
A country can't just keep printing money that is inevitably worthless. More people want to move away from the dollar because of its corruptivenss.
Over the last years so many doomy predictions are made, however the almighty Dollar is still with us. But I wouln't be surprised seeing the end of it soon.
Update on 21-Oct-2017: The $USD index bounced back up from its 50dMA and is now at around 93.8 level. It appears to be forming an inverse H&S pattern with the neckline at around 94. This is an important resistance level, which if overcome, should lead to the index going to around 97 (which will coincide with the declining 200dMA). So, the key things to watch are whether it breaks above the neckline at 94 and then goes above the 200dMA (around 97). If either of these fail, the $USD will be toast !
@marketreport @maneco64 @jsnip4 @good-karma
Update on 28-Oct-17: Well, the $USD index broke above 94 and is now likely to test the next resistance level at around 97. I would be surprised if it can break above that but you never know. So, I’ll be watching that level very closely as it is such an mportant level which should predict the future of the $USD. VERY INTERESTING TIME !
Update on 27-Nov-17: The $USD is now back down and very near its critical level of 92.50. All my indicators are suggesting that the downtrend has started and if it falls below this level (and then also falls below the next critical support at 91), then IMHO the USD is toast ! This is then likely to propel the price of Gold & Silver to the upside.
@marketreport @maneco64 @jsnip4 @good-karma
Update on 14-Dec-17: The $USD is now forming the right shoulder of a H&S pattern and if it falls below 92.50 then the future of USD looks dire !
@marketreport @maneco64 @jsnip4 @good-karma