from King World News
With the dollar trading lower and gold and silver moving higher, we may be looking at continued trouble for the US dollar, plus yet another gold bull catalyst.
USD Index between a rock and a hard place
October 27 (King World News) – Top Citi analyst Tom Fitzpatrick: The USD-index continues to hold below downward sloping trend line resistance (93.45); the 55 day MA (93.25) and the neckline of a head and shoulders (93.21). While these levels hold the suggestion would be new trend lows around 91.20. At the same time the 76.4% pullback level at 92.44 has held so far and a move back above 94.74 could signal renewed USD gains. At the moment the picture continues to favor USD bears but the days and weeks ahead should resolve this one way or the other.