1 reply to this topic

[Mike]

DOLLAR
5/12 The buck bounced off the declining trendline and established a rising channel. It broke threw resistance, came back to test it and has remained above it for a couple of days. The former rising channel looks too steep to expect it to be reentered, perhaps there'll be a less steep trendline established. On the weekly chart the declining trendline has an upper boundary around 91; however, there's a gap in the mid 94's.

http://stockcharts.c...26333285,Y].gif

Weekly chart

http://stockcharts.c...12299788,Y].gif

Monthly chart

http://stockcharts.c...26961546,Y].gif

EURO

5/12 A decline to 119 would coincide with the dollar moving to the low 90's or up to that gap. Gold and gold stocks would fall to a great buying point (this would be too perfect, so we can assume it won't play out).

http://stockcharts.c...14195059,Y].gif

[uncleharley]

Thanks for sharing your work. It looks like if the $$ breaks above 90, gold could lose it's luster for a while.