US Dollar Index (monthly & daily)
Euro (monthly & daily)
Aussie Dollar (monthly & daily)
We had S&P500 index weakness this week but US Dollar strength. But all I hear in the media is – “the US Dollar is going to zero and gold is going to the moon“. I don’t disagree that printing money will eventually devalue it – but most of the printed money is still sitting in reserves held by the banks and has not made it’s way into the money supply through greater lending.
I think there’s a major difference in time frame being considered and the commentators should be clearer on that. Are they taking a 10-year view? And if so, is that viewpoint helpful to a trader?
Here is what I’m seeing on my forex charts (US Dollar Index, Euro and Aussie Dollar above):
- Approaching monthly cyclical turning points, and
- “End of Trend” warning signals on daily charts
Michael Panzner is not exactly a US Dollar bull but “In the short run … I sense that we may see a Dollar rally first” (around 5:30). And this week Bob Prechter, Elliott Wave International, came out with “I’m very bullish on the dollar. Super. I think it’s going to be up for a year or two.”
Economist Michael Panzner on US Dollar Outlook
Good luck with your Emini trading.
