Thanks for viewing,
I just did a short-term DXY chart (3-6 months out) which was rather long. So please forgive me if I just drop this, instead of discussing all the fundamental and technical reasons - which I have dealt with before. If you have followed politics / financial news in the last year you will know that the USD is being intentionally devalued. I suspect that we are a long way from the end of that trend.
Remember all fiat currencies are being devalued, it is just that some are being devalued faster than others.
There is a convergent zone at 78 - two fibonacci extensions point to almost the exact same point. If that eventuates, or is exceeded, it will at least partially explain why gold is going to the levels that it is going to. My next target for gold is USD2200+ in 2020.
I am labelling this "short" but I don't trade FOREX anymore. But I am actually short, in that I am 'overweight' precious metals.
Protect those funds everyone, I am going to have a beer.
I just did a short-term DXY chart (3-6 months out) which was rather long. So please forgive me if I just drop this, instead of discussing all the fundamental and technical reasons - which I have dealt with before. If you have followed politics / financial news in the last year you will know that the USD is being intentionally devalued. I suspect that we are a long way from the end of that trend.
Remember all fiat currencies are being devalued, it is just that some are being devalued faster than others.
There is a convergent zone at 78 - two fibonacci extensions point to almost the exact same point. If that eventuates, or is exceeded, it will at least partially explain why gold is going to the levels that it is going to. My next target for gold is USD2200+ in 2020.
I am labelling this "short" but I don't trade FOREX anymore. But I am actually short, in that I am 'overweight' precious metals.
Protect those funds everyone, I am going to have a beer.