US Dollar & Gold: Is the USD about to collapse and Gold about to Rise ?
The $USD has just broken down below its critical level of 92.50. For my previous analysis, please see my other post on Steemit on the following link: https://steemit.com/marketreport/@jmsm2/is-the-us-dollar-about-to-collapse
All my indicators are suggesting that the downtrend has started (because of the completion of a H&S pattern as shown on the attached chart) and if it falls below the next critical support at 90, then my next target is 80. If it falls below 80, then IMHO the USD is toast ! This is then likely to PROPEL the price of Gold & Silver to the upside, a trend which seems to have already started judging by the price of gold and silver over the last few days.
Update on 14-Jan-18: As I expected, the $USD has now fallen to my target at around 90 (see updated chart below) which is also a key support level. If this level does not hold within the next few days, I envisage it going down to about 80 with the price of Gold & Silver rising in opposition. This is a very important time for the USD !
@vincentb @marketreport @good-karma @jsnip4 @jerrybanfield
Update on 24-Jan-18: The $USD is continuing to go down as I expected (see analysis above). As it appears to have broken below 90 today, my next target is about 80. However, it is currently oversold, so it may bounce back up in the short-term before continuing down again. This is a major development in the future of $USD and it's possible that its days as a reserve currency are numbered. On the other hand, this could be very positive for precious metals.
@vincentb @marketreport @good-karma @jerrybanfield @planecrazy1985
This important video just posted by our very own Greg Mannarino @marketreport explains why the $USD is going down.....a must watch...