GOLD has a correlation to the strength of USD, as a risk-off asset investors seek haven in the event of Dollar weakness (USD falls > GOLD rises). I'm sure there's more to it than that, be sure to check it out online for yourself.
The Daily timeframe is looking very clean when it comes to price action.
Having formed bearish MACD Divergence between 4th...
Continuing with another episode of Multi-Timeframe Analysis Series 1, I'd like to break down the DXY.
The DXY being weighted as follows:
EUR - 57.6%
JPY - 13.6 %
GBP - 11.9%
CAD - 9.1%
SEK - 4.2%
CHF - 3.6%
As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD. The EURO equates to over half...