<< <i>David Petch had a pretty detailed analysis of the USD today on financialsense.com (see link to site in sig line).
Petch was looking for a final USD index corrective wave down to .80 to .82 and then another rebound back to ????. Didn't say what but could be a triple top, something just short of the last top, or continue going above .90. He felt the current move down would be done in 2-3 weeks. At that point he felt the stock rally would take a breather as the USD recovered for a while...and the Euro/Cando/Aus D. and competing currencies all fell back. This would sort of lineup with Martin Armstrong's financial peak date of 4/19/09 (2009.3 using 8.6 month cycles). The general view of that seems to fit what many are thinking. While they are also figuring on gold doing something positive over the next few weeks as well, I'm starting to have 2nd thoughts....and today's drop to $938 didn't help though it's just about at the 38% retrace. If that holds, then all is well for the next leg up.
roadrunner >>
This makes sense. Many currencies have rebounded strongly. The Polish zloty and New Zealand dollar are up about 15% in the last few weeks. The chart of gold is neutral to me for the next few weeks. Probably some sort of trading range will develop.
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<< <i>David Petch had a pretty detailed analysis of the USD today on financialsense.com (see link to site in sig line).
Petch was looking for a final USD index corrective wave down to .80 to .82 and then another rebound back to ????. Didn't say what but could be a triple top, something just short of the last top, or continue going above .90. He felt the current move down would be done in 2-3 weeks. At that point he felt the stock rally would take a breather as the USD recovered for a while...and the Euro/Cando/Aus D. and competing currencies all fell back. This would sort of lineup with Martin Armstrong's financial peak date of 4/19/09 (2009.3 using 8.6 month cycles). The general view of that seems to fit what many are thinking. While they are also figuring on gold doing something positive over the next few weeks as well, I'm starting to have 2nd thoughts....and today's drop to $938 didn't help though it's just about at the 38% retrace. If that holds, then all is well for the next leg up.
roadrunner >>
This makes sense. Many currencies have rebounded strongly. The Polish zloty and New Zealand dollar are up about 15% in the last few weeks. The chart of gold is neutral to me for the next few weeks. Probably some sort of trading range will develop.
Knowledge is the enemy of fear