Here are my discretionary thoughts on forex and commodities. I only trade the stock market.
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- The U.S. Dollar is getting ready for a breakout
- Gold and silver are retesting support. A USD breakout would = a gold & silver breakdown.
1 am: The USD is getting ready for a breakout
Despite the USD going up yesterday, it still hasn’t completely broken out. There is a big resistance here at the 91 level. If the USD Index breaks out from this resistance, the next resistance is at 92.4
1 am: Gold and silver are retesting support. A USD breakout would = a gold & silver breakdown.
Gold and silver are maintaining their inverse correlation with the USD. Gold and silver fell yesterday because the USD went up.
With the USD at the top of its range, gold and silver are at their bottom of their range. A USD breakout would = a medium term gold and silver break down.
Read Forex & commodities on April 25, 2018: outlook
I only trade stocks. These are just my thoughts/outlook on other markets.
- Gold and silver are in bull markets.
- I’ve decided to buy some gold and silver as long term investments.
- The U.S. Dollar is in a bear market.