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The election is now behind us and I pray our elected officials can come together
and make quality decisions to move this country forward in a positive direction. [That being said, how the U.S. Dollar Index reacts over the short term] is going to be very important for portfolio construction in the weeks and months ahead! [Let’s take a look at what the following charts say on the subject.] Words: 225
So says Chris Kimble (http://blog.kimblechartingsolutions.com) in edited excerpts from his post* entitled Is the U.S. Dollar about to break above a 10-year falling resistance line?
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!), may have edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Kimble goes on to say, in part:
Over the past 10-years the U.S. Dollar has lost over a third of its value, inside of a falling channel. Earlier this year the Dollar broke above the 10-year falling channel [see chart below] and then fell in price as investors became too bullish on the Dollar (80% Bulls).
CLICK ON CHART TO ENLARGE
The US$ is now making another attempt to break above resistance line (1) in the above chart as several key U.S. stock index’s are at important support lines as can be seen in the 4-pack below.
CLICK ON CHART TO ENLARGE
How the Dollar handles resistance and the major U.S. Index’s handles support is going to be very important for portfolio construction in the weeks and months ahead!
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*http://blog.kimblechartingsolutions.com/2012/11/is-the-u-s-dollar-about-to-break-above-a-10-year-falling-resistance-line/
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
Related Articles:
1. “Fish Mouth Spread” Pattern Suggests USD Rally Close At Hand
Traders have created a rather large “fish mouth spread pattern”again in the US dollar Index. In the past this fish mouth spread was spot on in suggesting that a Dollar rally was close at hand…Will the results be any different this time?
Gold could become very bullish once it breaks through the upper horizontal resistance line at $1,800/ozt. Likewise for silver once it breaks through $36. Once these prices are surpassed the HUI should also take off. Check out my technical analysis below for details.
