US Dollar Crawl
The US Dollar has been crawling along its rising 110 weekly moving average. This is not a bullish pattern and suggests a fall down to the US Dollar’s next lower support zone.
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The USD is been bid up because of FED Tough Talk to show off their so called independence and authority. Fact of the matter is, they can’t raise interest rates until at least May 2017.
The main reason is companies and consumers simply don’t hire people and invest so much during times of political uncertainty. That’s why the US economy only grows an abysmal 1.x% growth rate.
The last time Yellen finally moved was in December 2015, after two good jobs reports of averaging 241k each. This resulted in a stock market crash in January and February 2016. Well, combine that with great political uncertainty, even if Clinton wins. Good luck Yellen. She won’t move.
USD will fall until Q2 2017, and then go sky high because the Euro will cease to exist because of France and especially Italy want to move out of the Euro.
This is not bullish either, it’s very obvious that Gold is still in a bear.
http://i629.photobucket.com/albums/uu19/solssonabb/GoldWedge_zpsvoc2nvyr.png
Here is my chart and analysis on the USD Yearly Cycle.
Friday’s move likely confirms that May 2015 was the YCL for the dollar.
https://goldtadise.com/?p=383415
Here is my Yearly Cycle analysis on both Gold and Stocks (SPX)
Gold Yearly Cycle:
https://goldtadise.com/?p=383361
SPX Yearly Cycle:
https://goldtadise.com/?p=383400
Thanks SurfCity.
Denial, denial, denial – gold is been supported by imminent rate increase in US, Eurozone recession, British pound at multi decade lows, etc..
Hi Gent, I don’t understand Your statement. To me it seems conflicting in itself.