{"id":7917,"date":"2018-01-11T07:30:53","date_gmt":"2018-01-11T12:30:53","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=7917"},"modified":"2018-01-11T07:30:53","modified_gmt":"2018-01-11T12:30:53","slug":"the-bucks-bounce-is-over","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/the-bucks-bounce-is-over\/","title":{"rendered":"The Buck\u2019s Bounce Is Over"},"content":{"rendered":"

Well\u2026 that should just about do it for the bouncing dollar.<\/p>\n

Last week, we took a look at the US Dollar Index<\/a> ($USD) and concluded that the buck was so oversold it was due for a bounce. We also suggested that any rally would be temporary.<\/p>\n

We cautioned traders who might attempt to profit from a bouncing dollar not to stay in the trade too long. It looked like the dollar had lower to go.<\/p>\n

$USD did indeed bounce higher for a few days. But yesterday, the dollar turned back down. And it looks \u2013 to me at least \u2013 like the bounce is over.<\/p>\n

Here\u2019s an updated chart of $USD\u2026<\/p>\n

\"\"<\/p>\n

The index didn\u2019t quite make it all the way back up to the former support line \u2013 now resistance \u2013 at 93. Now, after yesterday\u2019s decline, it looks like the buck is headed towards the September bottom at 91.<\/p>\n

If that level doesn\u2019t hold \u2013 and I don\u2019t think it will \u2013 then look out below\u2026 The next support level (not shown on this chart) is another 3% lower.<\/p>\n

That sort of decline in the dollar should add a little more fuel to the current gold rally.<\/p>\n

Gold is up almost $80 since mid-December. That\u2019s right about when the dollar started its current, intermediate-term decline.<\/p>\n

Gold and the dollar tend to move in opposite directions. So, if the dollar breaks down again, then we could see an explosive move higher in gold.<\/p>\n

Traders should keep an eye on the $USD chart, and on the September low in particular. A close below that level should lead to more selling pressure for the dollar \u2013 and more buying pressure for gold.<\/p>\n

Best regards and good trading,<\/p>\n

<\/div>\n

Jeff Clark<\/p>\n

Reader Mailbag<\/strong><\/h2>\n

Today, some kind words from <\/em>Delta Report members\u2026<\/em><\/p>\n

I wish you a Happy New Year. Thank you very much for your excellent trade alerts. I think you are making a big difference in the lives of your subscribers.<\/p>\n

\u2013 Sitarama M.<\/strong><\/p>\n<\/blockquote>\n

 <\/p>\n

Thanks Jeff. Nice start of the year. Made a nice profit on GE and GDX.<\/p>\n

\u2013 Rene Z.<\/strong><\/p>\n<\/blockquote>\n

 <\/p>\n

Happy New Year. Just wanted to give you some of my stats given that you did it for your report.<\/p>\n

I was able to have a 35% return on invested capital for the entire year based on trading your ideas. That is pretty good for me. I did not get into every trade you provided but got to most of them. If I can do that level of ROI then obviously a happy camper!<\/p>\n

I am a lifer with you folks and very happy with your entire approach. Your track record is amazing and your style fits me very well. Many thanks and looking forward to a great 2018. Will update my stats this time next year as well.<\/p>\n

Many thanks!<\/p>\n

\u2013 Terry P.<\/strong><\/p>\n<\/blockquote>\n

 <\/p>\n

As always, feel free to send in your trading stories, questions, and suggestions\u00a0right here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The dollar is breaking back down below support. Here\u2019s the trade that will benefit most\u2026<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-7917","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/7917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=7917"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/7917\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=7917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=7917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=7917"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=7917"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=7917"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=7917"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=7917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}