Charts of Interest - Copper & the USD Index

Posted by Graham Parlane on 31 January 2013

All

In the wake of the FED’s FOMC announcement this morning these charts bear close scrutiny.

The FED have pledged to keep the money spigots wide open, to pay for their US$85 bio per month of various securities purchases, until the labour market improves to 6.5% unemployed goal. i.e. the song remains the same.

We know that the majority of data from around the world, last night’s U.S. GDP excepted, has been strongly on the improve lately so is Dr. Copper (recall Gartman says it has a PHD in economics), ready to break higher just as the USD Index drops below support?

Copper / USD Index – click here to view chart

With the EUR/USD rampaging higher, Gold and Silver again looking strong I suspect these support/resistance areas will be broken in due course and create very tradable moves.

Regards G

Tags: Broker, CFD trading, CFDs, Commodities, Copper, EUR, EURUSD, FED, FOMC, Foreign Exchange, Futures, Futures trading, FX, FX trading, GDP, Gold, Gold investment, Labour, Precious Metals, Securities, Silver, Silver investment, Silver trading, Trader, Unemployment, US, USD, USD Index