Based on Daily engrbytrade™ Gold calculations, intermarket futures trading data for gold, and Dollar futures trading data, the Dollar is expected to continue moving higher during the first quarter of 2022.
Dollar: Year End
As noted on August 1, 2021, futures trading data calculations indicated a rise in the US Dollar during the remainder of 2021. This rise is expected to continue going into the end of 2021.
US Dollar: 2021 Move Upward
Charts courtesy of StockCharts.com
The US Dollar chart structure developed between June 2007 and July 2008 is similar to the chart structure developed between June 2020 and July 2021. Results from futures trading data calculations for the US Dollar are in alignment with calculations from August 2008, indicating a rise in the US Dollar is expected during the remainder of 2021. This rise in the US Dollar would be similar to the move upward between August 2008 and December 2008. A rise in the US Dollar is also in alignment with an expected decline in the Dow later this year.
Dollar: Moving Higher
In the March 1, 2021 post it was noted that calculations indicate global currencies, such as the Australian Dollar, British Pound, Canadian Dollar, and Euro are expected to retest their previous 2020 lows by early 2023 as the U.S. Dollar moves higher. On April 5, 2021 Goldman Sachs finally closed its recommendation for shorting the dollar.