USD and Gold prices are usually inversely correlated which was the case up until around sept 17th when they started to both go up together. Daily candles indicate gold has good momentum but the dollar is set up for a reversal.
Silver prices are typically directly correlated to gold and they are both moving together as you would expect. The dollar is the one doing something odd.
This looks to me like the dollar should reverse. UUP bullish USD etf is in an uptrend and looks oversold and both MACD and Stochastics signalling a reversal (weekly candle).
UDN bearish USD ETF selling pressure slowing and could expect a bottom soon.
These two ETF trends help support the suggestion of how this divergence will play out.
Time to be bearish the dollar! Buy UUP Puts and/or UDN calls
Silver prices are typically directly correlated to gold and they are both moving together as you would expect. The dollar is the one doing something odd.
This looks to me like the dollar should reverse. UUP bullish USD etf is in an uptrend and looks oversold and both MACD and Stochastics signalling a reversal (weekly candle).
UDN bearish USD ETF selling pressure slowing and could expect a bottom soon.
These two ETF trends help support the suggestion of how this divergence will play out.
Time to be bearish the dollar! Buy UUP Puts and/or UDN calls