Since we all pay more attention to the Gold price, let’s see something relevant.
Recently, DXY has been fluctuating for a while, so we cannot observe any trend for the long term, at least I cannot.
So, let’s see the short term thing.
The Bollinger Bands shrunk a few bars before, which means a change in trend could happen soon. Then, a downward trend happened just after the Bollinger Bands shrunk. And now, the candles touch the Bollinger Bands. The price would face pressure when it touches the Bollinger Bands.
Could it be a strong support point?
The MACD is still going down, however, it could be lagging. RSI remains low, but a small upward trend is observable.
Let’s wait for more signals.
Recently, DXY has been fluctuating for a while, so we cannot observe any trend for the long term, at least I cannot.
So, let’s see the short term thing.
The Bollinger Bands shrunk a few bars before, which means a change in trend could happen soon. Then, a downward trend happened just after the Bollinger Bands shrunk. And now, the candles touch the Bollinger Bands. The price would face pressure when it touches the Bollinger Bands.
Could it be a strong support point?
The MACD is still going down, however, it could be lagging. RSI remains low, but a small upward trend is observable.
Let’s wait for more signals.