Reminder: Watch Euro/Dollar for 1.3666
A quick reminder before I head to the (ICK!) regular job for another day of fun: as I said in the post last night, the dollar is threatening a major breakdown against the euro. Enter “currencies” in the search box up top to see some of my previous rants if you want some background.
This morning the dollar is bouncing around at 1.354-1.355 per euro. The major, huge, mondo critical level to watch is 1.3666. (That’s easy to remember, just think “one-thirty plus the devil”).
If the dollar breaks, commodities will soar. I’m especially talking about gold and oil here. And it won’t be the oil getting more expensive; it’ll be the dollar getting cheaper. Don’t forget that either can happen, and the result is the same - more dollars to buy a barrel.
Off to work. Ya’ll kick some butt today.