Currently, this site is best viewed on a Desktop computer

Negative Signs will
Hold the Dollar Down

 Review and Outlook for the U.S. Dollar, Silver, and Gold



Originally Posted on 3/04/2018 @ 4:42 pm

by Steven Warrenfeltz



Subscribe to this Blog

 Subscribe by RSS Feed




Hello,

Before we get to this Review & Outlook, below are some of the Best Bullion Market-Related News articles that were taken from this guide's home page, over the past few weeks.


best news
Asleep at the wheel at the Federal Reserve - AEIdeas


What The Climbing Debt Defaults Really Mean For The Economy - PYMNTS


From Copper to Gold, Metals Gaining Upper Hand vs. Stock market - Bloomberg Professional


Total U.S. Debt and Gold - GoldSeek


Inflation's Back and Commodities Will Benefit, JPMorgan Says - Bloomberg


Russia's central bank gold hoard is now bigger than China's - MINING


U.S. Debt: Financial Markets Wake Up - The Gail Foster Group


Who Is It That Wants to Buy Trillions of US Treasury's??? - Econimica


Platinum price crashes through $1,000 after German diesel ban - MINING


A Shocking Number of Americans Now Owe at Least $50,000 in Student Debt—and Many Aren't Paying It Down - Money


Best of the Week for
Gold NanoParticle Cancer Research


Gold Nanoparticle Cancer Research News #5 - Free Bullion Investment Guide


New method uses light and gold nanoparticles for highly targeted, non-invasive drug delivery - PHYS.org


Why Gold Nanoparticles Offer a Bright Future for Diagnostics and Healthcare - Technology Networks







negative signs will hold down the dollar

photo provided courtesy of pixabay.com






This guide's last blog post, seen here, was about how the U.S. Dollar fell below the $91.00 price level which was a three-year-old, critical support level,

However, even though this was bad news for the dollar, all of the chart patterns for the dollar in that blog post were positive.

But now that those positive patterns have been validated and confirmed, the dollar's future isn't looking bright, which should be good news for gold and silver.

In the charts below, you will see why the title of this blog is Negative Signs will Hold the Dollar Down.







Review & Outlook
Commentary
Layout

Each asset below has three sections.

  1. In the 'review' section, a copy of the previous outlook for that asset is posted.
  2. Next, you'll find a 'review - continued' section where there is a brief review of how accurate the previous outlook was.
  3. Finally, you will find an 'outlook for the week ahead' for each of the assets below.




All the charts on this blog are Daily Charts unless noted otherwise.






US DOLLAR


In Review - 2 weeks ago

Two weeks ago, I wrote the following outlook for the U.S. Dollar and posted the chart below.

In the outlook chart below, the 'Falling Expanding Wedge' is still intact, but,  I have faded its labeling and dotted its trend-lines because the positive pattern may not play-out as expected, but that scenario is doubtful.

The dollar should confirm or deny the pattern sometime in the future, the question is; When?  

But now, a new 'Falling Expanding Wedge' has formed in the dollar's chart.

The new positive wedge pattern is steep and narrow, so barring any unexpected news, the dollar should confirm it sometime in the near future.

However, the dollar's MACD and RSI are giving very little indication as to which way the dollar will move, so perhaps the dollar will break the new pattern soon, or it may continue its fall inside this new pattern like it did the older one, time will tell.


u.s. dollar price chart

In Review continued


Last Sunday I wrote the following at the top of this guide's main blog page:

2/25/2018:

All of the chart patterns in this guide's last blog post titled: 'The Dollar Breaks a Critical Support Level' have been been broken and confirmed. 

However, no new patterns have formed in the U.S. Dollar, Gold or Silver charts which is why there is no post this weekend.

In the chart below, you can see that both of the Falling Expanding Wedges were validated and confirmed several days ago.

Now, new patterns have formed in the U.S. Dollar's charts and I will show you what they are in the outlook section below.


u.s. dollar price chart

U.S. Dollar - Outlook

In the outlook chart below, I have identified two of the most prominent negative signs a.k.a wedge patterns in the U.S. Dollar's chart.

In all honesty, I found two other negative patterns in the U.S. Dollar's chart, but one was simply like adding gas to a fire in regards to the rising wedges and the other is only implied, we'll have to see how the dollar's price moves in the days and weeks to come, before I can identify that pattern in the charts.

Plus, had I added that other wedge it would have made the chart below cluttered and hard to read, if it isn't already.

Anyways, getting back to the outlook for the U.S. Dollar, two negative 'Wedges' have been identified in the chart.

Currently, the price of the dollar is literally sitting on the bottom trend-line of both wedges, which means they could be confirmed in the next day or two.

However, the 'Rising Wedge' in 'black letters' is the dominate wedge, so the price of the U.S. Dollar could bounce back up and trade inside it for a few days before the weight of the $91.00 resistance level helps to push the dollar below the trend-lines of the wedges, confirming them.


u.s. dollar price chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com




U.S. Dollar's Price Resistance and Support Levels


U.S. Dollar's Resistance Levels

$91.00

$89.50


U.S. Dollar's Support Levels

$88.00

$87.00








SILVER

In Review

Two weeks ago, the following commentary and the chart below it, was posted for silver's outlook.

For the week to come, silver has formed a Rising Expanding Wedge.

As the chart suggests, silver's price could confirm the negative wedge pattern very soon, or we could see the price of silver bounce around inside the pattern before it confirms it.

Either way, as the negative pattern suggests, a dip in silver's price should happen sometime in its short-term trade.


silver price chart

In Review - continued

In the review chart below, you can see that the price of silver did confirm the 'Rising Wedge Pattern' a few days after the last blog post was published.


Silver Price Chart

Silver - Outlook

In silver's outlook chart below, a positive 'Falling Expanding Wedge' has formed.

Silver's candlestick chart and its RSI (lower indicator) are showing that silver's price is possibly going to continue to move up.

However, its MACD is giving no indication as to which way it will move and the price of silver has been very volatile, so we could see the price move in either direction in the days and weeks to come before it confirms the pattern.

One thing to know is that the Federal Reserve won't be making a decision on interest rates until March 21st, so until then, we can pretty much expect to see silver move up or down with a lot of volatility.


silver price chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com





Silver's Price Resistance &
Support Levels


Silver's Resistance Levels

$17.50

$17.00


Silver's Support Levels

$16.15

$16.00








GOLD

In Review

Below, is what was written in the gold outlook from two weeks ago and its corresponding gold chart is below it.

Like silver, gold has also formed a 'Rising Expanding Wedge,' it's a little broader than silver's wedge, so it isn't expected to confirm it as soon as silver is expected to confirm its negative wedge.

In addition, much like the dollar's MACD and RSI, gold's lower indicators are offering very little indication as to which way the price of gold will move in the near future.

So, for the next week or two, we should see gold's price move inside the negative wedge, before it confirms it.


Gold Price Chart

In Review - continued

If you compare the chart above with the chart below you can see that although the pattern was confirmed, I was wrong about how gold would trade inside the wedge.

The price of gold broke the 'Rising Expanding Wedge' two days after the gold outlook chart was posted, much earlier than I stated.


Gold Price Chart

Gold - Outlook

In gold's outlook chart below, you can see that like silver, gold has formed a 'Falling Expanding Wedge.'

The wedge is a positive pattern, and like silver's pattern, gold's price is currently trading near the upper trend-line of the wedge.

In addition, gold's MACD and RSI are giving a slight indication that more of a rebound could be in its near future.

In regards to the news, its hard to say which way gold will move, however the biggest thing to remember about gold is; "Uncertainty is its Best Friend."

Time will tell how soon gold will confirm its positive 'Rising Expanding Wedge.'


Gold Price Chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com





Gold's Price Resistance and
Support Levels


Gold's Resistance Levels

$1380.00

$1350.00


Gold's Support Levels

$1300.00

$1280.00







Thank You for Your Time.

Have a Great Week and God Bless,

Steve





Missions of the
Free Bullion Investment
Guide





The Free Bullion Investment Guide has three missions:

  • The 1st mission is to give anyone interested in the precious metals bullion markets, an honest place on the web that provides bullion market reference material, bullion market news, and other market-related information.





(Every Advertising LINK on this Guide is from one of our Affiliates)







'Click Here' see all of the prior Blog posts,



Thank You for Your Time!



Investment/Information Disclaimer:

All content provided by the Free-Bullion-Investment-Guide.com is for informational purposes only.  The comments on this blog should not be construed in any manner whatsoever as recommendations to buy or sell any asset(s) or any other financial instrument at any time.  The Free-Bullion-Investment-Guide.com is not liable for any losses, injuries, or damages from the display or use of this information. These terms and conditions of use are subject to change at anytime and without notice.






Return from this Guide's Latest Blog Post

and Visit the Homepage








Free Bullion Investment Guide





Donate with
PayPal, Debit, or Credit Card



NANO Cancer Awareness Ribbon for the Free Bullion Investment Guide


This Guide Gives Half of its Earnings
to
The Angel of Healing Cancer Research
Fund



Who is the
Angel of Healing - Archangel Raphael

Archangel Raphael The Angel of Healing



This Guide's Contributions to those Battling Cancer

$5042.36

Next Ledger Entry 11/15/2018

Last Ledger Entry 10/15/2018


Ledger History Spreadsheet




Time-line of Who this Guide has Sponsored

2012 - 2018












recent guide updates

Homepage Bullion News

updated daily - around 8pm

(except Saturdays)



11/12/2018


gold and silver technical analysis

A Bearish Pattern has Formed in Silver and Gold's Charts




10/16/2018


Gold Nanoparticle Cancer Research Report

Gold Nanoparticle Cancer Research Report
#11

A glimpse into what you'll find in this report:

  • How 'Nano Gold & Iron make MRI's safer and better'
  • What the result was with 'Treating Brain Cancer using a Gold Nanoparticle Nasal Spray'



10/15/2018

Ledger

Updated




Discount Shopping page

Discount Shopping page

Updated




Gold Libertads

1oz & Fractional

Gold Libertads

-

Mintage Figures Updated




Cancer Awareness Gold Nano Ribbon
Cancer Awareness Gold Nano Ribbon
Cancer Awareness Gold Nano Ribbon
Cancer Awareness
Cancer Awareness Gold Nano-Ribbon

Cancer Awareness Information & Resources page

















Weekly

Top 10 pages of the Free-Bullion-Investment-Guide.com

pages



Home page




The Bullion Guide's

blog



Bullion News Archives




Engelhard Bullion

Engelhard



Cancer Awareness Gold Nano Ribbon
Cancer Awareness Gold Nano Ribbon
Cancer Awareness Gold Nano Ribbon
Cancer Awareness
Cancer Awareness Gold Nano-Ribbon

Cancer Awareness Information & Resources page




Gold Nanoparticles & Cancer

Gold Nano-Particle



Affiliates / Disclosure page




The 'Troy'
System of Weight

The 'Troy' System of Weight



1/10th oz. Canadian Gold Maple Leaf

Bullion Coin

bullion coin



Dow to Gold

Ratio