USDX Forecast - June 21st 2016We believe that USDX is headed for the liquidity zone up around 96.00.
Usdx
AUDNZDI like the idea of going long here. A break of this support will most likely bring a test of this years low, so i'll look to follow the move down.
SilverShould retest $17 if we see the break maybe higher. Move above 18.75 long term bull market should be in place.
PlatinumI'm already long. I will add to my longs in that pretty little red zone.
Gotta respect that trend!
USDx teetering on the edgeAfter closing below 94 on Friday, this gives a lot of downside exposure as this close displays a lot of USD weakness. If you look at my idea on EURUSD and USDJPY, I have been a strong proponent of USD weakness since late December/early Jan. With the Euro looking like it wants to push up to 1.23/24 (linked) and USDJPY wanting to push lower to 102 and potentially lower yet to 96, it could be a very sharp and swift decline for the dollar.
SILVERSilver looks like is carving out a bottom. Could be the start of a long term rally!
Need to break 18.50 though
USD long, especially against JPY, CHF, GBP and EURSeeing the low of May 3 as the price bottom of a 3 wave correction for the previous leg up from 72 to 100.
If that proves right, aim above 114 and towards 120.
A more complex correction, with a low in the area of 89 or 90, shall not be excluded.
COPPERDollar looking weak! It breached key support and it looks like it has formed a double top.
If the dollar continues lower, then copper and other metals should continue higher.
