The Dollar On Fire

Discussion in 'Trading' started by Pabst, Jul 22, 2002.

  1. The dollar is still in a bull market, at least technically, depending on what criteria you use.

    It has corrected about 15% of its value, and a 38% retracement of the bull move from the low mid 80's to the high 120's.

    Take a look at the attached jpg. for a perspective....
     
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    #11     Jul 23, 2002
  2. Tasuki

    Tasuki

    Pabst,
    As you probably know, the price of gold and the US dollar fluctuate inversely. The rise in the dollar may be related to the sharp drop in the $XAU today (monday, 7/22). Since gold has become a safe haven, it's very puzzling to me that the gold index went down during a day in which the fear in the markets brought both the dow and the naz down sharply again. If you have any idea why gold went down, please post (I was thinking of buying some GG or GLG or AU). Sincerely, Tasuki
     
    #12     Jul 23, 2002