Every why hath a wherefore

Chart of the day is…

…the US Dollar:
BE CAREFUL OUT THERE, FOLKS. You’re getting fed headlines such as “Gold heads for 15-month high as dollar gets crushed” and while gold’s certainly doing just fine, the dollar isn’t “crushed”…not yet anyway.
I’d agree that if it clicks down another point from here those headlines will be justified, but note that we saw this very same level three times in 2015, only for the greenback to rebound again. So crushed?…not yet…close yes but not yet. 
If you like to bet on hunches, buy the “weak dollar” story today and if you’re right you’ll make more money than me on the trade. Because I’m going to wait out on the trade until the odds are stacked more highly in my favour. If that happens it’s going to be soon, if it doesn’t I save myself pain and a loss.

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