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Precious Metals Benefit From a Shift in Currencies

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No market can move straight up even if fundamentals are positive as is the case with gold and silver.

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As you will see in the following part of this essay, it has profound bullish implications for the precious metals market. Meanwhile, let's take a look at the European currency.



In the long-term Euro Index chart, we have quite the opposite situation as compared to the dollar. Now it's not that the euro is showing strength, but rather the dollar has simply lost much of its appeal relative to the euro and this makes the euro look strong.

The breakout above the key resistance line in the euro was a major bullish factor and the size of the move that followed after the breakout has already verified it. The picture is clearly bullish.
No positions in stocks mentioned.
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