Please keep in mind that the US dollar could very well be in the process of printing a Half Cycle Low and could potentially break through trendline resistance as well as deliver a higher high before correcting down into a much anticipated Daily Cycle Low.
A higher high would also produce bearish divergence with our Stochastics, RSI, TSI indicators -- a reliable indication that a top is in place. Also, keep an eye on price action in the EUR/USD
A higher high would also produce bearish divergence with our Stochastics, RSI, TSI indicators -- a reliable indication that a top is in place. Also, keep an eye on price action in the EUR/USD
Comment:
So far so good.. The Dollar has confirmed a swing low and is now on its way up to 96. For those of you trying to trade the 'bounce up' in Gold, I would recommend a little patience before placing your bets.. And I would also keep an eye on the EUR/USD
Comment:
The 2 hour chart below is currently showing some really nice 'Divergence', which means the dollar could be dropping into a DCL.. If that is the case, then we could see a nice bounce in Gold over the next few days.
