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“Bloodbath phase” when the dollar is down a whopping 4% from the highs?
First off, it’s 5%, and 5% is a big move for currencies, but bloodbath phase refers to the panic as an asset (any asset) moves down into a final intermediate cycle low. It usually lasts about 5-7 days and often begins when a major support level gets broken. In this case I think it began when the dollar broke through 96.14.
Twill be interesting to see what happens to the US dollar when the IMF welcomes the Chinese at the table this fall. Get ready for a real ‘bloodbath’ kids..!
Read where some of the Fed members said a rate hike is still possible in June. Could be just talk but that would seem to shore up the dollar in the near term.
Split the difference. 4.5%
http://schrts.co/jknKl7
Anyway, you posted that the dollar was going well past 100? That’s why I questioned the bloodbath phase.
http://blog.smartmoneytrackerpremium.com/wp-content/uploads/COTD-1.png
I think it is going to 110 or 120 later this year. It just needed to have this corrective move first.
declining dollar means gold going up????????? check out gld chart. Looks to me like head and shoulder sell off???????????
yes gold has been capped at 1220. It has a date with 1000 sometime this year.
Gary, has Ag also been capped (I suspect so). If so, do you have a $ figure for that cap, and will TPTB whipsaw it like Au? Or will it just follow Au’s lead?
And, thank you for your blog and the continued contribution via Korelin. I’ve learned a great deal (I’m not a newbie, but no expert either), and really look forward to it every day!