If Gold is double topping at MM3 then Dollar is about to get strong. All Dollar pairs are at resistance and despite the Dollar weakness running throughout all market sessions since yesterday’s higher than expected CPI they have stopped at prices where Dollar Bulls are definitely expected to go long USD. Some of them at the previous high at the end of Jan (EURUSD and NZDUSD). Price on Dxy has also found support at WS2 which means that Dollar Index could be in the process of forming a double bottom at MM2. Pay attention to all Dollar pairs as we head into NY.

Gold Daily

Price came up off the daily 55 which predicts a double top. Price is currently at MM3 forming a possible double top. As we know - a move lower in Gold is a move higher in Dollar.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.