DXY 4H - KOG Target

This is what we need to be really careful of. Excalibur has left us a very bearish target on DXY. DXY is in an ascending wedge so can break either way. Because of that target we're assuming any break up would be a false breakout which could give Gold a chance to find an intermediate bottom.

We're monitoring this closely and it seems that FOMC could be a bit of a trigger tomorrow. Now we know there is a correlation between Gold and the DXY, however, they can move in the same direction as we've seen a lot in the past.

Its something to keep an eye on if you're trading Gold. As always we'll update the group regularly on its progress.

KOG