Forex & commodities on March 9, 2018: outlook


Here are my discretionary thoughts on forex and commodities. I only trade the stock market.
Go to the homepage for my latest thoughts on forex and commodities.

Thoughts

  1. Short term bullish price action for the U.S. Dollar Index
  2. U.S. Dollar Index is still stuck on is 50 daily moving average.

3 pm: Short term bullish price action for the USD Index
There is an inverse correlation between stocks & gold/silver vs. the USD.
The stock market surged on today’s Jobs Report. Gold and silver went up. But the USD Index hardly went down. This is a short term bullish sign for the U.S. Dollar. Perhaps the USD Index will retest the highs for this bounce (91).

3 pm: USD Index is still stuck on its 50 daily moving average.
The USD Index’s recent bounced failed on this resistance level. It bounced to this resistance again yesterday and is being pushed down. The USD’s bear market is being guided down by this resistance.

Read Forex & commodities on March 8, 2018.

Bottom line

I only trade stocks. These are just my thoughts/outlook on other markets.

  1. Gold and silver are in bull markets.
  2. I’ve decided to buy some gold and silver as long term investments.
  3. The U.S. Dollar is in a bear market.

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