Even with a safe haven bid seen in the markets today on account of a roaring crude oil price, the US Dollar cannot get any sort of decent bid - This fact, more than anything else, is telling us that the Dollar is very close to crashing through major chart support just north of 75. After all, if it cannot rally on the payrolls number in combination with a safe haven bid, what is it going to take to rally it??
The facts are nearly every other major nation, with the exception of Japan, are now fully engaged in the battle against the Kraken (inflation monster). Only the US Federal Reserve refuses to see the obvious. They will print, print some more, and keep on with their damn printing, until they succeed in driving King Dollar into the latrine.
that is one sad looking chart. If it can't hold 75, wow....
ReplyDelete