For the last week or so the dollar has reversed the previous inexorable rise from February. The Swiss franc and the Yen are picking up flight from equities strength, which makes little sense long term. US Yields are off peak too pretty much along the same trend. This should be good for GOLD. Yet gold fell to support today around 1855UDD. I guess it was the greed rushing to equites as they may get a bear market rally tomorrow if inflation numbers even give a hint of relaxation...short rally in equities...Bank stocks (XLF) forming the base of a cup says we likely get a bounce...but the dollar downturn makes it all look unconfirmed.
Trade closed manually:
OUT of trend.