Above is a weekly chart of the U.S. Dollar and as you can see the dollar is testing the low from 2004.
In my opinion I think that low will be taken out based on the fact that the Euro is already above it's high from 2004 and so is the British Pound.
I am long the Swiss, B-Pound and Euro and I took profits yesterday on half my position.
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![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-gbp-small.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-jpy-small.gif)
4 comments:
Kevin,
Most of the currencies have appreciated a lot against the USD except the JPY. Do you see anything in the chart the shows its about to reverse? Thanks.
No...The yen is very weak even in the face of a falling dollar. I think if the dollar bounces even just a litte, the yen will probably sell off...I wouldn't buy it but then again this is just my opinion.
With the USD making new lows and the lag of tyx by six weeks---Where do you see tyx in August? Thanks
I'll post a chart on my other blog when I get a chance.
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