|
Post by uncleharley on Jan 13, 2022 1:14:33 GMT
The USD, as measured against a basket of major currencies, made a break out move today or perhaps I should say a break down move. It had been consolidating in a flag pattern for the past 2 months or so. Today it made a decisive move down of about 3/4% to 1/2 point below the support of the flag pattern. The break is predictive of further weakness in the USD. A declining dollar is normally supportive of higher commodity prices and higher prices for many common stocks. Gold, Silver , & oil continued their recent moves up today and Nat Gas made a spike up on strong trading volume. I am looking for more to come. stockcharts.com/h-sc/ui?s=$USD&p=D&b=3&g=0&id=p81036478851&a=412560997&listNum=86
|
|
|
Post by retiredat48 on Jan 13, 2022 2:45:48 GMT
A declining dollar also helps in the performance of mutual funds in the international markets, such as Emerging Markets.
R48
|
|