The U.S. Dollar had the ability to break above its major moving averages on
a monthly closing basis Friday but it failed to do so. This could add
significant pressure to the greenback next month and most likely longer
term. Open interest has been rising showing massive buying of dollars over
the past few months. It may make a rapid accent initially in the month
should it break above the moving average but could fail by the end of
March. The fact that it failed to breakout on the February month end close
could cause massive liquidations as people realize the U.S. is in the same
boat as Greece, Spain, Italy, Portugal and the UK.
I remain firmly convinced people have been jumping out of the frying pan
and directly into the fire of the U.S. Dollar. Gold is a mirror image of
the dollar and should benefit greatly throughout 2010 and many, many years
after.
Stay tuned.
JMC
DISCLAIMER: All of the provided information is believed to be accurate, however errors are possible. The opinions in the Commentary section do not necessarily reflect the opinions of GoldIRAS.com. Past performance of any investment is no guarantee of future performance. All investments have risk.
TOLL FREE - 877-703-2193
Copyright 2007.GoldIRAS.com and Gold IRA's & Rarities, LLC. All Rights Reserved
![[Most Recent USD from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
Google 
Facebook 
Twitter 
MySpace 
Rss Feed