Honey, We Need to Shrink the US Dollar!
(and Help Metals)
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The U.S. Dollar has rallied since the summer of 2011, almost two years! The rally has taken it up to a resistance line that has been in place since 2005. Bullish sentiment at this point are lofty, reaching levels hit only five times in the past five years.
The combination of this line and high bullish sentiment has resulted in the US$ taking a breather. As the US$ has rallied, what has been the direction of Gold, Silver, Copper and Commodities (CRB/CRX)? Not too pretty!
Will this setup cause the US$ to decline? Or will it be different this time? Could a US$ decline have a positive short-term impact on Commodities? Stay tuned!
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