Dollar - update and alert

Dollar - update and alert

In yesterdays post we examined the potential for gold recovering to complete a long term cup formation. While this view is highly speculative it does seem that gold is heavily oversold and should rally in the coming weeks, providing some short term relief. I also noted that the dollar was nearing the bottom of it's up trend channel and should it break down it would likely fall much further.


As of today you can clearly see that the dollar has bounced off the bottom of the up trend channel. Watch the dollar closely today, it will either recover somewhat in the face of little news, or we will get some news that will push the dollar down below the up trend channel setting it up for a significant fall.

For disclosure, I'm not a professional advisor and this is not investment advice, merely my own observations of the market and indexes, so do your own research.


Thanks for the analysis.

Thank you for your continued support of SteemSilverGold

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by unc.hermit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.