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Monday, October 4, 2010

US dollar bounce?

Just yesterday, in my weekly summary, I listed US dollar, gold, and rates.
While the trends depicted there will take months if not years to change, there is an interesting chart pattern today.

The USD may have bottomed Friday. I have confidence the dollar will resume and go lower, however, in the near term (1 week, 3 months?) the USD could reverse and gain in appreciation.

A good time to get in on natural resources is if/when the USD hits about 80 in valuation. That level has shown some support and now possibly resistance.

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