US Dollar breakout hard on Gold, Silver and Miners!

August 15, 2017

Something we have been talking a lot is the run in the Euro and falling USD. In the post below Chris Kimble outlines just how extreme sentiment got for the Euro (on the bullish side) and the USD (on the bearish side). The lack of the USD to truly breakdown further leads me to believe that we will be in this long term trading range for a while longer.

Click here to visit Chris’s website for very good straight forward chart analysis.

… Here’s the free post from his website…

The US Dollar so far this year, has been very week, losing nearly 10% of its value. This decline might have influenced investors to go long the Euro. Below looks at sentiment towards the Euro, that we shared on our Twitter & Stocktwits accounts 9-days ago.


The chart above reflects that bullish sentiment towards the Euro is historically high and in the past when it reached these levels, it was closer to a high than a low.

Below looks at King Dollar’s pattern over the past couple of years-


US Dollar while testing 2-year support level, also finds itself at the apex of a bullish falling wedge, where two weeks ago at (1) a large bullish reversal wick (reversal pattern) formed. This support test is taking place while momentum is oversold and attempting to turn up.

This week King Dollar is attempting to breakout above resistance of the bullish falling wedge at (3). A rally in the the US$ here and decline in the Euro, could put downward pressure on Gold, Silver and Miners!

Due to this pattern, Premium Members went long long the US$ near the start of this month, with a stop just below the apex of the bullish falling wedge.

1 Comment
    Aug 15, 2017 15:58 AM