eResearch | Kimble ‘s latest report looks at the U.S. Dollar and the Euro, which are both testing key breakdown/breakout levels. See the chart below.
The Dollar is at the top of its 18-month (long-term) rising channel after having recorded a series of higher highs and higher lows.
The Euro is near the bottom of its falling channel after a series of lower highs.
So, both the Dollar and the Euro are at critical testing points. The Dollar needs to break down and fall back into its rising channel and the Euro needs to break out above its falling channel.
Because commodities are closely linked to currency values, gold, silver, and other precious metals are anticipatory. It would be bullish for these metals if both complete a price reversal at current levels. That is, the Dollar needs to go lower and the Euro needs to gain upward traction.
To see the original post on this topic, please visit kimblechartingsolutions.com
//
