DOLLAR: USDX INTRADAY DOWNSIDE BREACH 77.688

August 3rd, 2009

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

Buckle up. A lot of stuff could break on the way down to 71-72.

While I’m expecting it to wreck hard, a part of me is sitting here, looking at it and thinking, “They’re not really going to let this happen, are They?”

As of now, it sure looks that way.

If you don’t know what I’m talking about, see: Dollar Finally Breaking Down from July 20th.

Via: Reuters:

U.S. gold futures rose to their highest level in nearly two months on Monday due to a combination of a weaker dollar, physical demand and fresh buying from investment funds amid a Wall Street rally.

Posted in Collapse, Economy | Top Of Page

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