Saturday, April 9, 2011

Where Doth Thou Go oh EUR/USD?

Oil currently sitting above 112, gold has rocketed to above $1470/oz, while the USD sinks below 75.  The Euro has been on a tear, and continues its trajectory to a possible first target of 1.45 >>> second target 1.487, but will the weakness of the USD continue?  6 weeks from breaking long term support would suggest that the proverbial bottom has fallen.  Marc Faber is calling for a dollar rally?

Daily Charts of the EURUSD and DXY.

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