-DOLLAR DAILY- I think the dollar is experiencing a meaningful devaluation. Prices are extremely overdue for a bounce, but the trend pushes persistently lower. The final area of support arrives at the 2018 low of 88.15. If that level fails, I believe the USD could collapse to 80 by April/May 2021.
-DOLLAR MONTHLY- We are in a similar setup to the post-trendline breakdown of gold in 2002/2003. Consequently, I believe the dollar is on the verge of an accelerated decline towards 80. The weakening dollar should push gold higher into April/May 2021 before the next 6-month cycle correction.
In 2002/2003, the US was coming out of recession, just like now. The recent $900-billion Covid relief package will not be the last. I expect one or two more programs next year – this should continue to deflate the dollar and push hard assets higher.