Wednesday, September 16, 2009

Currencies: USD continues to Sink, Real +34%, Year-To-Date Tables

Gold continues to move higher, and USD continues to drop. The table below shows the losses of the dollar versus major world currencies, on a YTD and 3-month basis.

(please click to enlarge)

The best performing currrency continues to be the Brazilian Real., which can be traded through the BZF ETF. Chart with Bollinger bands shown below:

(please click to enlarge)

The trouble with the BZF is that it is very close to overbought, with an RSI7 of 69.31. The weekly RSI7 is even worse at 72.34. This is dangerous territory.

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