The Dollar Index has consolidated between 73 and 76.50 for several months. 63-day Momentum holding below zero indicates a strong down-trend. Breakout below 73.50 would warn of another decline, with a target of 70*. Recovery above 76.50 is unlikely, but would signal reversal to an up-trend.
* Target calculation: 73 – ( 76 – 73 ) = 70
Can you please add silver to your regular daily reports on the blog? It would be great since the volatility is great and also it is a much better trading vehicle using ETFs than Gold or Copper.
Thanks much.
Kenny
Posted a silver update a few minutes ago. Regards, Colin
Hi Colin – many thanks for your trading diary – re US$ I believe we are in Wii of W3 up – US$ must not go below 74 for this and should rally again some time next week to make a new high and possible up to 80
Graham Stubington
When the Dollar Index has a money flow in the negative, where is the money flowing to? Could you clarify please?
Thank you
That is Momentum displayed below the Dollar Index — not Money Flow. Momentum holding below zero confirms a down-trend. Regards, Colin