The Dollar is Trading
in a Negative Pattern
Despite its Positive News
UPDATE

 Review and Outlook for the U.S. Dollar, Silver, and Gold


Originally Posted on 11/07/2017 @ 11:43 am

by Steven Warrenfeltz


Subscribe to this Blog

 Subscribe by RSS Feed



Hello,

Thank you for visiting the Free-Bullion-Investment-Guide's latest blog post, before we get to the precious metals review and outlook, below are some of last week's Best Bullion Market-Related News articles that were taken from this guide's home page.


best news
The World Is Running Out of Gold, Should You Invest? - Fortune


FAKE BULLION ALERT: Fake Gold Bar Did Not Come From RCM - Kitco


INFOGRAPHIC: All of the World’s Money and Markets in One Visualization - Visual Capitalist


Austerity Should Be Renamed Sustainable Spending - Advancing Times


Central-Bank Demand for Gold Bars 'Set to Grow' in 2018 - Bullion Vault


AUDIO : INTEREST RATES AT 5,000 YEAR LOW - McAlvany Weekly Commentary


Best of the Week for Gold NanoParticle Cancer Research


New clinical trial offers hope to patients with glioblastoma - WGNTV (Chicago, IL)


Magnetic gold is evidence of relativity, study finds - Cosmos Magazine






The Dollar is Trading in a Negative Pattern - update




Besides the fact that 2-weeks have passed, not much has changed in the charts for the U.S. Dollar, Silver, and Gold since my last blog post.

In addition, the narrative for the first post under the same name hasn't changed either, the U.S. dollar is just getting more good press than it was two weeks ago.

Besides the up-and-coming tax cuts that were discussed in the original blog post, GDP is up to 3%, the Non-Farm Payroll report was very positive, and the unemployment rate is down to 4.1%.

It kind of sounds like I'm leading you up to something, doesn't it?  I'm not trying too, except for the fact that the U.S. Dollar is still trading in a negative pattern and gold and silver are trading in positive patterns.

In the original blog post seen here, I discussed the fact that tax cuts without spending cuts lead to a lower dollar and higher gold, but they haven't been passed yet and nobody knows what will be in the final deal, so that argument is up in the air at the moment.

As for the rest of the information, it all sounds good to me, the only way to look at things negatively, is to look at the business cycle, which is completely out of whack, plus the stock markets hasn't had a decent pullback in over a year and volatility is at multiyear lows.


Average Business Cycle Chart


sir john templeton

In addition, Margin debt is at all times highs and everyone thinks this is the 'New Norm.'


What could go wrong?



NYSE Margin Debt Chart
and the S&P 500


Fact is the only reason why it's different this time is due to all the central bank manipulation of the markets.

Right now, we don't know what will cause the next downturn in the markets, it could be interest rates, it could be inflation or some international event that was never on anyone's radar.

The market never creates a 'New Norm,' the central banks can't manipulate the Free Market forever without burning everyone attached to it sooner or later, so you should "Cover Your Assets."

Popular Family Card Game

If your assets are covered, that's great, you have the freedom to play the market however you choose.

But, if they're not, its always best to have a little insurance (a.k.a. Precious Metals) in your portfolio so you don't end up a fool.

At least 10% of this insurance is recommended for everyone's portfolio, if you choose to have more or less, that's your prerogative, just don't tell me I didn't warn you.

As for the charts, below you'll find updated charts for the U.S. Dollar, Gold, and Silver.








Review & Outlook
Commentary Layout

Each asset below has three sections.

1)  In the 'review' section, a copy of the previous outlook for that asset is posted.

2) Next, you'll find a 'review - continued' section where there is a brief review of how accurate the previous outlook was.

3) Finally, you will find an 'outlook for the week ahead' for each of the assets below.





All the charts on this blog are Daily Charts unless noted otherwise.






US DOLLAR

In Review

Two weeks ago, I wrote the following about the U.S. Dollar and posted the chart below.

In the chart below, you can see that the negative 'Rising Expanding Wedge' pattern is very broad, and the dollar's been trading inside of it since early September.

It clearly could continue to move inside the pattern and that is expected as it continues to move up on the news of how the tax cuts will help the economy.

It won't be until the details of the 2018 budget deal are passed into law to know how the specifics in the bill will affect the Dollar.

But, as long as the negative pattern is looming over the dollar, its future does not look as bright as some may think.


US Dollar Price Chart

In Review - continued

As you can see in the chart below, what was posted two weeks ago, is mostly what happened.

The dollar continued to move up in the wedge pattern, the price not only moved up on the continued reports of how the tax cuts will help the economy, it was also fueled by the positive non-farm payroll numbers and a good GDP report.

However, the negative pattern continues to linger over the dollar's price.


U.S. Dollar - This Week's Outlook

As for the week to come, if the U.S. Dollar continues to rise, it will start to hit resistance at the $95.50 level.

Therefore, although I have little doubt that the U.S. Dollar will continue to trade inside the 'Rising Expanding Wedge' some pullback may happen this week.

In addition, the Dollar's MACD and RSI are starting to move a little higher in the overbought territory, so if the dollar hits the $95.50 level this week, the dollar will consolidate at this level, and we may see a pullback.


US Dollar Price Chart

Charts provided courtesy of TradingView.com





U.S. Dollar's Price Resistance and Support Levels


U.S. Dollar's Resistance Levels

$96.50

$95.50


U.S. Dollar's Support Levels

$94.00

$93.00









SILVER

In Review

Below is silver's commentary and chart outlook from 2 weeks ago.

For the week to come, silver's price chart has formed a positive pattern known as a 'Falling Wedge'.

However, silver's MACD and RSI are giving very little indication as to which way the precious metal will move.

Furthermore, silver's 'Falling Wedge' is broad, so it may (continue to) trade inside it before it confirms the positive pattern. Time will tell.


Silver Price Chart

In Review - continued

The outlook from two weeks ago so far looks to be holding up, if you look at the chart below, silver is still trading inside the 'broad' Falling Wedge, plus over the last two weeks, it hasn't given much of an indication as to which way its price is going to move.


Silver - This Week's Outlook

For the week ahead, silver continues to show very little as to which way it's going to move.

Although it did come close to breaking the upper falling trend-line of the wedge last week, the price did not close the day out above it.

In addition, Silver's MACD and RSI are both giving little indication as to which way the price may move, so we may continue to see the price move sideways, and perhaps that sideways movement may ultimately break the wedge.  Time will tell.


Silver Price Chart

Charts provided courtesy of TradingView.com





Silver's Price Resistance &
Support Levels


Silver's Resistance Levels

$17.75

$17.50


Silver's Support Levels

$16.80

$16.50









GOLD

In Review

Below is the gold outlook from two weeks ago.

For the week to come, like silver, gold has formed a positive 'Falling Wedge' pattern.

Although the pattern is positive, the pattern is broad so the price of gold has room to trade inside it.

Plus, the MACD and RSI are giving very little indication as to which way it will move, so this week although gold's trading in a positive pattern, we could literally see it move in either way. Time will tell.


Gold Price Chart

In Review - continued

Over the last two weeks, gold moved down, but it is still trading inside the positive 'Falling Wedge' as noted two weeks ago.


Gold - This Week's Outlook

As for the week ahead, gold's MACD and RSI are looking a little more positive than silver's lower indicators.

To clarify, they don't look positive because they are in positive territory, nor do they look like they are indicating a positive change in price.

They look positive because unlike silver, they've been moving in oversold territory for more than a week and sometimes when price indicators move in the oversold territory for so long, a change in price usually isn't far behind.

So like silver, we may see the price of gold move sideways this week or perhaps it could move up in price, either way, it looks like the upper falling trend-line of the wedge will be tested this week.


Gold Price Chart

Charts provided courtesy of TradingView.com





Gold's Price Resistance and
Support Levels


Gold's Resistance Levels

$1310.00

$1300.00


Gold's Support Levels

$1260.00

$1250.00








Thank You for Your Time.

Have a Great Week.

God Bless, Steve







'Click Here' see all of the prior Blog posts,



Thank You for Your Time!



Investment/Information Disclaimer:

All content provided by the Free-Bullion-Investment-Guide.com is for informational purposes only.  The comments on this blog should not be construed in any manner whatsoever as recommendations to buy or sell any asset(s) or any other financial instrument at any time.  The Free-Bullion-Investment-Guide.com is not liable for any losses, injuries, or damages from the display or use of this information. These terms and conditions of use are subject to change at anytime and without notice.







Please Donate to
Support this Guide

& Paypal

Thank You for
Your Support







Free Bullion Investment Guide







Free-Bullion-Investment-Guide "Search"
search engine by freefind advanced


Search - Magnify Glass






Free Bullion Investment Guide



Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.

Affiliate Links - Disclosure


SilverGoldBull





Donate to
Keep this Guide Online

& Paypal

Thank You for
Your Support




Free Bullion Investment Guide



search

   Search the Guide

search engine by freefind advanced




recent guide updates

Daily

Bullion News on the Homepage



PAMP

Refiner page

PAMP Gold



Heraeus Refiner page

Heraeus



January 2025

Newsletter




Johnson Matthey Refiner page

Johnson Matthey



Engelhard Refiner page

Silver Engelhard Round



2025
Gold & Silver Chinese Panda

Gold Pandas

2025 30gram Chinese Gold Panda Bullion Coin - Reverse Side

Silver Panda

2025 30gram Chinese Silver Panda Bullion Coin - Reverse Side



Gold Buying Guide

Gold Buying Guide



The Perth Mint & Australian Bullion

The Perth Mint and Australian Bullion



The Royal Mint &
United Kingdom Bullion Coins

Royal Mint - The Original Maker





Archangel Raphael
~
The Angel of Healing

ArchAngel Raphael - 05



Cancer Awareness Information & Resources

Cancer Awareness Month Ribbon with FBIG Gold-Nano Logo



Help Us Expand our Audience by forwarding our link

www.free-bullion-investment-guide.com.

Thank You!



December's

Best News

The Top 29 Silver-producing Countries Silver Mining Leaders Revealed - Silver Hall of Fame

Video: Federal Reserve Chair Powell speaks at the New York Times DealBook Summit - Metal Mine (The New York Times)

Report: Monthly Gold Compass: December 2024 - incrementum

Gold's long-term expected return - World Gold Council

Why Gold Investing Wins the 21st Century So Far - Bullion Vault

El Salvador could be 'sitting on a gold mine' with $3 trillion in unmined gold - The Jerusalem Post

Unless you’re on a suicide mission with your wealth this is probably a good time to take a few chips off the table. - Economic Prism

Report: Gold 2025 Outlook: More Room to Run - State Street Global Advisors

MKS PAMP Introduces New Cast Bars Design Leveraging Pioneering AI-Powered Technology - MKS PAMP

How Gold Became One of the World's Favorite Assets - CMEgroup

(.pdf) Report: Hereaus Precious Metals Forecast for 2025 - Heraeus

The True Driver of Gold's Historic Rise - Daily Wealth

Mysterious 1,800-year-old silver amulet discovered in Germany could rewrite the history of Christianity in Europe - Fully translated – never before read by 21st century humans until now - Daily Mail

America’s FIRST Great Investor - Money and Markets

Gold Nanoparticle Cancer Research

Gold-based drug slows cancer tumor growth by 82%, outperforms chemotherapy - Interesting Engineering (msn)

Sona Nanotech's THT Cancer Studies Demonstrates Strong Efficacy in Third Preclinical Study and Plans for First-in-human Early Feasibility Study - Investing News Network (INN)


All Articles were Originally Posted on the Homepage






Gold per Troy Oz. (ozt.)


Silver per Troy Oz. (ozt.)