Is the Dollar About to Go on the Warpath Again?‏

April 16th, 2015
in contributors

$ DXY – NYBOT Dollar Index (Last:97.66)

Written by , Rick's Picks

Oscillating lazily between 96 and 100, the dollar has been consolidating gains racked up over an eight-month period. The rally, which began last July, saw this vehicle rise by 25%, to a recent high just above 100. Is it recharged for another huge leap?


Follow up:

My gut feeling, looking at the daily chart, is that at least another week or two of corrective action is needed to set the stage for a strong resurgence. Even so, if we are tuned to the lesser charts, looking for the very first sign of this, it would come with a print on Friday at 97.97 (see chart below). Then, if the rally were to continue, pushing past p=98.65, that would strengthen the case.

FYI, my long-term forecast calls for a powerful move, over several years, to highs near 120 that were recorded nearly 15 years ago. If and when that occurs it will be a very different world — one in which, presumably, deflation has triumphed ruinously.


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