U.S. DOLLAR BREAKS DOWN
The U.S. dollar rally is coming to an end.
After a relentless three-month climb higher, the greenback is ripe for a fall.[ad#Google Adsense 336×280-IA]As you can see from the chart below, the dollar index has just broken down from a bearish rising-wedge pattern.
This pattern often ends in a sharp decline.
If the dollar continues to break down, it could fall below 79.
In other words, the dollar is likely to trade back down to where it was in early March.
A falling dollar is a bullish sign for gold and silver.
– Jeff Clark
Source: Market Notes