On September 24, 2023 it was noted that the average relative value of silver derivatives moved into a position of being “Extremely Undervalued”. This is also true for the Euro. The following chart is a representative average relative value of the Euro vs. U.S. Dollar. The current position of this relative value provides an expectation that the Euro will change direction and move higher over the next several months. This aligns with the Dollar’s abrupt change in direction noted on September 26, 2023.
