Refer to chart for retracement target in DXY. From there, i will short since DXY is in a downtrend.
Comment:
And.. How i perceive the DXY has nothing to do with my gold outlook. Gold must not go down if dollar goes up. If price hits that retracement target, it is about 95.5. Well, that is the same price DXY was when gold was @ the top 1375 last year.
Yes, they are much of the time correlated, but gold has a lot of different correlations and we know correlations come and go.
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Yes, they are much of the time correlated, but gold has a lot of different correlations and we know correlations come and go.