If you attended Wayne’s webinar on Friday you’ll know he spent a nice amount of time discussing Gold and his analysis indicated that Bulls are waiting for a double bottom before price starts a bullish trend. Let’s take a look at the week ahead with projected pivot points. Keep in mind that on Friday President Trump claimed that his tax reform bill will be passed early next week. We saw Dollar strength on Friday which was very likely caused by the news releases surrounding different senators that confirmed they were going to sign the bill. Bears that sold the FOMC release will are looking to sell again at resistance. It wouldn’t be a huge surprise if the tax bill was a buy the rumor sell the fact setup. Also, something else to note – COT shows Euro longs the highest since May 2007 (ForexLive). So if you are a Bull on the Euro and a Bear on the Dollar you might get a good price for a EURUSD long this week. Analysis of the Euro indicates a likelihood of further Euro weakness in the week ahead (according to EURJPY, EURAUD, EURNZD) so be sure to pay attention to price action at key levels of support and resistance before getting into any trades.

Dollar Index Daily

DT stands for Double Top. A break above 12100 kills this plan.

Dollar Index H4

Gold Daily

Gold H4

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