Fundamentally. Too much debt and still printing money. Repeat.
What is the US Dollar really worth? If the 1944 Gold Standard were applied at the rate of US$35/oz, against today’s Gold price of around US$1,850/oz, the US Dollar is worth 0.0189 cents today. Any wonder central banks are increasing their Gold holdings.
Technically. Long-term looks a bit bleak. There does not appear to be any long-term support for the US Dollar right across the board. If you’re trading the daily time-frame, and looking to build a position, make sure you keep these monthly charts top-of-mind.
It’s really a shame what’s happened to the Dollar since the US lockdowns started in March, and I definitely felt the effects of a weak dollar this trading week. I had my analysis on GBP/USD set up for a sell, and the weak dollar completely went against my bias.
Good analysis. It is quite shocking what happened to USD ever since the pandemic has overpowered the world and affected it majorly. It has weakened a lot after the lockdown. Who knows that happens next.
Some very interesting times ahead. The pandemic will be the excuse used to explain the world’s economic woes, but all it has really done is reveal existing core weaknesses in the global financial system. If not a pandemic, then some other excuse…climate change, perhaps! Stay safe, alert, and savvy. 2021 is a big unknown!
Anyone here rocking some money shorting the dollar on the daily timeframe USD/CAD and or USD/JPY?
I been waiting for it to fall since a week or so ago and its just making ground instead lol
I know the loonie isn’t doing so well but the dollar is somehow surprising me
