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Monday, September 24, 2012

USD fell quickly, time for a break?

The USD broke DOWN from the uptrend started back in August 2011.  After a year of USD gains, time for some down pressure.  Recently USD fell quite a bit in a reasonably short period.  I expect a couple of weeks of sideways before resuming down.
If this happens, gold, oil, etc may lose some gains before resuming the uptrend.
Heck its possible USD gains strength and resume up, but it seem unlikely.

So hang tight, some in, take some profits, and wait.
Gary of smart money tracker posts cycles, etc, but I simply like the chart below to tell a story.



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