Greenback Hitting Some Downside Targets

In our February 27th Asbury Alert entitled US Dollar Poised To Decline By Another 4% Versus The Euro, we discussed a technical breakout that was taking place in Euro/US Dollar (EURUSD). The breakout targeted an initial (Dollar-bearish) rise to 1.5500.

At the time, EURUSD was trading at 1.4975. The subsequent rise to 1.5500 equated to a nasty 3.5% decline in the US currency versus the euro in just two weeks.

Here's the chart from that February 27th research report.

Here's the updated version.

Now that this initial price target has been met, could today's collapse in gold help to trigger an overdue rebound in the greenback?

Stay tuned...