What a freefalling U.S. dollar means to commodity prices

Market Pulse: September 18

Last week, with the help of QE3, the December 2012 U.S. Dollar Index opened at 80.400 and closed the week at 78.987. The USD has not been below 80 since the first week of May 2012. The only way we would see the USD rise this week was for Eurozone to experience negative news over the weekend, and sure enough that is what we are seeing. 

On the daily chart we see ADX at 52.6 reflecting a very strong downtrend. The DI Differential found on the TS Analyzer is at 33.75. MACD is bearish and Stochastics are in deep oversold territory.

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