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DXY XAUUSD Correlation Remains High
1/GC1!
davidtrueblue
1/GC1!
Chart Patterns
Technical Indicators
fx
Gold
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chartpattern
indicator
fx
gold
Using the DXY as a rough proxy for the USD shows that it has a very high inverse correlation with gold. Being bullish on gold implies you expect DXY to continue falling off a cliff. While the momentum is there, it could snap back quickly and hard.
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