Friday, February 25, 2011

USDX Dancing with support - About to break lower?

Back on the 18th of January I blogged about USDX support at 79 being broken to the downside. We're now dancing with the lower support area of 77. Below this there may be support at 76 and then 74, but the US Dollar is looking very weak. I would not be surprised to see a break below 74 over the next couple of months which would support higher Gold and Silver prices early in the year (as they have an inverse relationship).



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2 comments:

  1. Looks like it's continuing it's downward trend.

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  2. Bounced a bit on Friday, could have formed a double bottom which may lead to a (small) rally. Will have to wait and see.

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