"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, March 18, 2011

Uncle Buck: Not good

They are hitting the Yen and yet the commodity currencies of Canada and Australia look pretty lame, while the USD is death warmed over. 

Here is a daily chart from a couple NFTRH ago, showing the dollar at a double bottom from November.  If 75.63 does not ultimately hold, next stop is the low 74's and a whole bunch of bearish potential.  Best for Unc to hang tough here. 

It seems that the world is voting for USD's competitive basket case, the Euro.  Yeh, I am sure that is going to work out well in the long run.  <<--sarcasm.  Gee, why do you think I am a gold bull on the big picture?

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