In this chart we can see a strong bearish push to the downside as of today (16/06/2020). Following this selloff and the strengthening of the DXY we can see that price has since recovered to where it broke out from where a retest was seen and as of the time of the publishing of this idea, it appears to have seen rejection on the hourly. That being said, we can...
Aiming for a slow move to the downside with US Dollar Index showing positive moves to the upside and the British Pound Index Turning bearish on the Open.
There are economic factors that may accelerate the moves.
gold and the AUD and NZD are usually very correlated in respects to each other.. as we can see they have got away from each other ... i think they need to find a path back to each other but when? and how?
I drew my chart on the greenback last week some time and thought I would share as it has significant impact on major pairs as well as the price of GOLD.
For the time being we are seeing bears gaining momentum.
Keep a close eye on the $
Draw up your analysis on the Dollar, Sterling and Euro, and Gold.
Are there emerging patterns? Lets look again on Sunday at...
My recent analysis of Silver applies across all commodities. If you are bull on Silver, Gold, Platinum then you are bear on USD. It is quite easy to be bear on USD at this time and it makes sense fundamentally as incentive for companies to return manufacturing to the USA. I have found a distinct correlation between the log scale price of BTC and USD, where USD...