Dollar

At the same time the gold price is climbing, we observe also strength in the dollar. Sentiment is bearish, but the odds favor more and more the other way.
Everybody thinks the dollar is doomed. However, if the whole planet looks in one direction, the trade is done at the opposite side.

Look to this chart and the wedge.

We like the PowerShares US Dollor Index Bullish Fund ETF (ticker: UUP) tracking the performance of the US Dollar index as a tool to play an eventual break out.

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