US Dollar Quick Update

Regardless of the news, this US dollar chart is still heading up. The USD bull market is keeping the gold price in check. Even though the commercials positions are heavy net short, the USD seems to ignore that.  This does happen at times and can last a long time before any reversal happens.

We can see that the USD price moves are still controlled by the “Golden Cross” and the US dollar would have to crash deep before the “Death Cross” can even occur.  The USD is getting support at the 200-day MA line and I see that as a bullish sign.  All the gold bugs, (investors) want the USD to implode but at this time the USD refuses to play their game.  Short term the odds may be stacked against the US dollar but not long term as the US dollar is in a bigger bull market than we can imagine.

The next price target would be above my wave 3 in Minor degree, which is about 97.500.

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