XAU outbreak on DXY breakdown?
The DXY has been in a channel for a long time.
Gold has been in a consolidation since it's last highs.
One could say GOLD is in a bull flag pattern.
I've been observing an inverse correlation between the DXY and XAUUSD for a while now.
IF DXY breaks down from it's channel it might just shoot XAUUSD out of it's consolidation (upwards).
Levels to watch are the DXY's channel trend lines and gold's wedge trendline (upper).
Gold has been in a consolidation since it's last highs.
One could say GOLD is in a bull flag pattern.
I've been observing an inverse correlation between the DXY and XAUUSD for a while now.
IF DXY breaks down from it's channel it might just shoot XAUUSD out of it's consolidation (upwards).
Levels to watch are the DXY's channel trend lines and gold's wedge trendline (upper).
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