Get Ready For Big Moves In Gold, The US Dollar & The Euro
November 2, 2012
Today Tom Fitzpatrick spoke with King World News about what to expect going forward from gold, silver, the US dollar, and the euro. Fitzpatrick has been astonishingly accurate in forecasting the movements of both gold and silver. Now Fitzpzatrick lets KWN readers know what to expect from the currencies as well as the metals.
Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “Focusing on the US dollar, and particularly the dollar index, we do feel the setup is very similar to what we saw during the April/May period of last year. We are testing this area which we believe is the pivotal level around the 80.15 area, which when we finally broke through it in May of this year gave us the next leg higher on the dollar index.
This lift in the dollar in May eventually moved the index above 84. So we have been approaching the pivot area, but so far we have not been able to decisively push through it. If and when we break through, that will open up the way for a push higher in the dollar again. It should then test the year high at 84.