Louise Yamada – Gold, Art, Hard Assets, Euro & U.S. Dollar
August 8, 2013
With continued volatility in key global markets, today King World News is pleased to share a piece of legendary technical analyst Louise Yamada’s “Technical Perspectives” report. Yamada is without question one of the greatest technical analysts Wall Street has ever seen. This information is not available to the public and we are grateful to Louise for sharing her incredible work with KWN readers globally.
By Louise Yamada Technical Research Advisors, LLC (“LYA”)
August 8 (King World News) – GOLD, ART, HARD ASSETS, CURRENCIES: Dollar on a Pogo Stick.
The U.S. Dollar Index (DXY-81.91) last month no sooner notched a new low (see Figure 24) than it rallied this past month to a new reaction high and back down again!! But little has changed from our comments last month. The gyrations could continue in a developing trading range between 81 support (coincident with a newer uptrend still in force), and 85 new resistance. The lower support boundary remains at 79-80 at the former uptrend. A breach of either 79 or 85 should define the next trend. The weekly momentum is negative, the monthly (neither shown) is positive, leaving a neutral tug-of-war.