Wednesday, April 8, 2015

Can the US Dollar Hold Its Rebound? #Gold #Oil

We return to the chart of the PowerShares DB US dollar Index Bullish Fund ($UUP) to check on the status of the greenback. On Monday, it dipped below its short-term uptrend; on Tuesday it peeked back above that trendline.

Can this rebound hold?

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(Updated chart)

The last time the US dollar faked a breakdown -- in December 2014 -- it led to a 12% rally. That said, this rally is getting long in the tooth. And the US Dollar has structural and political problems that I've written about elsewhere.

Stay tuned. This is a crucial week not only for the US dollar, but for gold and crude oil and well.

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