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Established current trends….U.S. Dollar Up (Hot), Euro Down (Cold)
The upward trend in the US$/Yen has it facing a cluster of resistance at (1), monthly momentum is the highest in 40-years and bullish sentiment towards the US$ at 91%, according to Sentiment Trader.
The downward trend in the Euro has it facing potential falling channel support, with weekly momentum the lowest level in 15-years and bullish sentiment toward the Euro at 14%.
No doubt the solid current trend in the US$ is up, the world continues to look at the US$ as the tallest of the seven dwarfs. No doubt the current trend in the Euro is down and the world see’s plenty of troubles in Euro land.
Some times trends have counter trend rallies or they reverse trend. The current situation with both currencies presents a potential for short-term reversals in these prices zones. Our strategy is called TB&M, which stands for “Tops, Bottoms and No Middles” as we attempt to find key turning/inflection points.
The odds for a reversal here might have moved up a little of late as Gold & Silver are both reflecting relative strength against the US$ of late. See metals strength (HERE)
The Power of the Pattern, when Silver was trading at $28, shared that it could fall almost 50% more, to the $15 zone and metals and premium members would look to be a buyer near those levels. Even though the US$ has been strong of late, Silver is gaining strength against the US$ right now too!
A few weeks upward move in the metals hasn’t proven a thing at this time, I do really like some things I am seeing in this complex and if the the US$ would turn weak here, metals could really be attractive to buyers!!!
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