We are curently back in the recent range and I expect a retest of the trend-channel. Might be a good chance!
We are moving within an ascending triangle and created a very weak S/H/S caused by a fake-out! Guess there is not enough demand to puush it and traders still wait for a lower-price to buy! ;-)
Peace and good trades Irasor Trading2ez
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This is exactly what I was thinking ! oddly enough though the eruo/usd chart also looks like it could have a correctional fall. If the DXY is weighted 54% on the euro, and if the DXY and the euro both fell, what do you have in mind for gold ;) ?? cheers and happy trading my friend
Trading2ez
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@CryptoCrusader, Thank You. Yea that´s a good point and I was think about that yesterday. The negative correlation of DXY/GOLD is more than obvious and usually the safe haven when the USD starts to fall. It seems like the market prepares gold to be a very nice and cheap opportunity as soon as we see the drop in the stock-market. The higher the interest rate gets, the less liquidity we have, the less prof revenue for companys, the less money will be in the stock-market. So the quewstion is: Is the market "preparing" gold to be a nice alternative? if the EUR/USD and DXY drops tho DXY is could also be called USD/EUR I think gold could be the alternative. I`m still waiting for a signal and will post a detailed analysis today. :-) We still have to be patient. ;-)