As you can see, i expect DXY to bounce off of the top trendline and make it's way towards the bottom trendline. It also looks like it may form a double top in the pink zone which is a bearish pattern. We should see a bullish response on gold if it does this. I expect price to remain contained within the trendlines until it breaks one of the structures and we see a bigger move in that direction.
There are many US fundamentals being released this week too that may impact this, so bear that in mind.
Updates to follow, follow me to see them.
There are many US fundamentals being released this week too that may impact this, so bear that in mind.
Updates to follow, follow me to see them.
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Setup invalidated due to fundamentals.