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US dollar index yearly chart cup and handle ?


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#1 tradesurfer

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Posted 10 April 2019 - 08:55 PM

Hey Senor BS or others, do you guys see this yearly US dollar index chart as a huge cup and handle with projections of 2020 or 2021 towards 120 ?

 

If you do, then doesnt that mean one last final huge shakedown for gold price ?

 

 

 

40617022643_aecc36f7c2_h.jpg

 

 



#2 hhh

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Posted 10 April 2019 - 09:10 PM

The dollar index compares the US dollar with other currencies. Other currencies weakening, which has been happening for a while now, doesn't necessarily correlate with the US dollar gold price.



#3 AChartist

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Posted 13 April 2019 - 10:17 PM

one forecast is for dollar to go up and up (relative to crap) until it is no longer usable by the world.

 

I would rather see US just become closed self sufficient isolationist even if fundamental and austere, and screw "the world",

 

never interrupt the enemy while it is destroying itself.

 

I saw Armstrong just say gold will go up but likely next year. I'll review cycles tomorrow it should at

 

least be positive enough to hold ground and may do well if i am right stocks decline between May and Sep.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#4 tradesurfer

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Posted 14 April 2019 - 09:48 AM

It just looks to me like mining index is going to make a double bottom that matches the 2015 2016 lows . The mining indices are famous for that extreme volatility

From THAT point it seems a relentless bull could spark

Now we see inflation ticking up and that initially could hit the metals as the fed pulls back it's easing language

#5 AChartist

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Posted 14 April 2019 - 08:13 PM

I'm afraid the gold cycles are weak for 4-5 weeks, probably the crypto's turn.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#6 senorBS

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Posted 30 April 2019 - 08:31 PM

what's interesting to me is last weeks spike above triple top resistance going back to last Nov at the 97.70 area, with prices now back below 97.70 (97.49 last) I have to wonder if that spike up to the 98.33 high was a FALSE breakout? certainly too soon to tell but moving back below the breakout level is not a healthy sign for the dollar IMO

 

Senor



#7 senorBS

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Posted 01 May 2019 - 09:57 AM

dollar reversal lower continues as it declines to 97.30, so far little or no positive effect on gold/silver/miners, however "IF" this does indicate an important dollar top it ultimately IMO would be a positive for the metals sector

 

Senor