Gold futures (candlestick chart) vs DXY (USD dollar index)
When gold price had a big red candle on last friday, USD was having euphoria
Yesterday, when USD had a big sell off down to uptrend line support, gold was massively scoop up by the bulls.
While dollar shown a Dark Cloud (Candlestick chart needed), Gold shown a Piercing pattern.
If USD broke the trendline, i anticipate gold price to go up into the no-man-land area between 8-20EMA, a rejection would mean more short for gold, a break out of that no-man-land would mean more upside.
When gold price had a big red candle on last friday, USD was having euphoria
Yesterday, when USD had a big sell off down to uptrend line support, gold was massively scoop up by the bulls.
While dollar shown a Dark Cloud (Candlestick chart needed), Gold shown a Piercing pattern.
If USD broke the trendline, i anticipate gold price to go up into the no-man-land area between 8-20EMA, a rejection would mean more short for gold, a break out of that no-man-land would mean more upside.