A new all time closing high for silver today while TLT, having retraced to July highs and which has been overdue for another run up, made 1.4% pop and now looks technically poised to revisit previous Aug. highs.
The other chart of note is undoubtedly FXE, which made a jaw dropping 125 pip jump in less than 90 minutes after the FED release. As of this post FXE is up another 50 pips, carrying it to 1.3300, about 50 pips above the previous May and Aug. highs. Having fallen to sub 119 in June, FXE has made an impressive recovery. In the face of continuing declining dollar FXE has the potential to see 136 again before significant overbought signals begin to fire. On the other side of the coin the technical chart of UUP looks just plain pitiful and, perhaps surprisingly, is not oversold at these levels and a pullback to 22 looks likely, if not imminent.
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