March 19, 2021 - (Gold Market Wire) - After all the fireworks surrounding the FMOC, we're right back where we started...in the box. The 50-day moving after has us capped, and the Precious metals complex is not trending. Time to break out the scalping tools and cut away some money. Nothing fancy - just trading for the day from the long side along the parameters of the box set out in our chart.

The Fed's indication that it would rain money down forever (well two years at least) and that it was enamored with the idea of inflation (who wouldn't be with debt like that!) has done nothing to tame the appetite for the US Dollar. No matter how much the Dollar bears kick and scream - it ain't happening. Really, they should give it up. It's been so many years since we've been around 1.60 EUR/USD, you think they would be embarrassed - but, no. We are right back sub-1.19, after all the Fed-talk, and really that is the take-away from this week. The US Dollar is NOT going to collapse anytime soon. As we close in on the end of the first quarter - this is what the Dollar bears have to digest so far:

Have a good weekend.