U.S. Dollar Price Analysis: Key Levels To Watch

October 15, 2015

USD BATTLES AT SUPPORT

U.S. Dollar Price Analysis: Key Levels To Watch

U.S. Dollar Price Analysis: Key Levels To Watch

In the summer of 2014, investors launched a new buying wave of the U.S. dollar in anticipation of higher interest rates by the Federal Reserve. By March 2015, the dollar index had rallied an impressive 28% before hitting major resistance.

Since topping out in March, the dollar has been battling to resume its massive uptrend and is now threatening to breach two key support levels near $93.50 and especially $93.

Part of the reason why the dollar has come under pressure as of late has to do with the indeterminate and ambiguous speech coming from Federal Reserve officials, which has brought former investor certainty of an imminent interest rate hike into question. (Higher interest rates boost the value of a nation’s currency.)

More poor economic data, both domestic and global, will only compound this uncertainty.

gold-ad
View Plans and Pricing

Case in point: This week, Wal-Mart announced that it expected to see a decline in profits during the next fiscal year. Not only did this cause the biggest plunge in Wal-Mart’s stock in nearly three decades, it also sent the dollar tumbling and gave an added boost to rising gold prices.

Our view is that while the dollar is currently under fire, it is the only major currency (of the 10 currencies we track each month in our Global Currency Monitor) that remains in an uptrend.

In fact, this recent rally sent the U.S. dollar soaring above a major 30-year resistance level.

cotd-101515usd2

As long as the uptrend remains, I plan to remain long the U.S. dollar.

Until next time,
Jerry Robinson

SUBSCRIBER’S NOTE: While I remain long the U.S. dollar with my savings, I am hedging my position with an option trade on the U.S. dollar. Paid subscribers can get the full details of that trade, made on August 26, here. (Search for my daily trading idea from August 26.)

LIMITED TIME OFFER: Get Your Land Investing Blueprint

FREE for a Limited Time Only – (regular price $97)
LIMITED TIME OFFER: Get Your Land Investing Blueprint

Download Your Land Investing Blueprint

Discover The BEST Way To Make Real Estate PASSIVE INCOME
Without the Nightmares You Always Hear About…

  • No Renters or Tenants
  • No Rodents or Termites
  • No Renovations or Toilet Repairs


GET OUR DAILY TRADING IDEA

See Today’s Trading Idea Here >>

Premium subscriber access only

Not a premium subscriber?

GET OUR DAILY TRADING IDEA


(All of our Premium services include our daily trading idea)

FTMDaily News Feed on Twitter




Featured image courtesy of: Fablok / Shutterstock

 

Get

Jerry
Robinson's

Best

Selling Book

Purchase Today

Please help us spread the word about FollowtheMoney.com on Facebook, Twitter,
and any other social media outlets.

Silver & Gold

Call 800-247-2812 now for the best prices on gold and silver coins and receive Free Shipping and Insurance when you mention Follow the Money.

Weekly Newsletter

Stay in the loop!
Sign up today to receive our
weekly e-newsletter.