USD ??? I see this again and again, these comments about USD, I just don't get it. Am I dum, what am I missing, if you can enlighten please do. From last post , a link, to ? " But right at the moment, the U.S. dollar is looking pretty darn good.” and "The culprits include the U.S. dollar — which usually moves in the opposite direction of gold — showing some surprising recent strength "
My chart which is DX00Y shows USD at 85.80 off its low of 84, again 84, down from 91 in march, for USD to be seeing strenght shouldn't we at least see USD above resistance at 87 let alone fact it is below 86. Where is this strenght, this bullish pattern, anything that bears out this bullish analysis?
On a daily one could make out the beginnings of an ascending triangle but topline is at 87. a downtrend line drawn from march on daily chart with top at 92 shows it just peeking above, far from a reversal of trend indicator.
My conclusion, smoke and mirrors. Not an explanation but an excuse. USD is a a dead horse technically. Long CAD.
take a look at the USD chart and tell me if you see what 'they' see.
andy
