Dollar Headed Lower

July 6, 2010 08:39 AM
 
It is possible the U.S. Dollar Index futures have put in a double top, according to Bill Fordham of C&S Grain Marketing. “If so, further declines may now be expected," he says. "A weekly close below 85.32 is needed to generate new selling momentum to test the 80.14 area, then a weekly close first below 80.14 and then below 79.73 should open the door for lower prices. Trading below the 74¢ level is critical for commodity prices to really come alive again, in my opinion.”
 
Many analysts believe that the euro is going to collapse and go back to being par with the dollar, Fordham adds. “In my opinion, this is all part of a plan for the eventual establishment of one world currency, which the International Monetary Fund has been working on for about 10 years and which has been in headlines recently.” Learn more at http://www.wocu.com.

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by Barchart.com
brought-by
Close