43 views
The DXY failed to create an inverse head and shoulders pattern.
It is now testing a double bottom here. It could bounce. Or it could fail.
Regardless, with a Gold breakout over 2000 I think the ratio between fiat currencies is becoming irrelevant. If the DXY bounces Gold could test 2000 dollars, but in that case, foreign investors would just buy the dip in their own currencies.
Somewhere, somehow it should bounce, but it's not looking good as of now.
It is now testing a double bottom here. It could bounce. Or it could fail.
Regardless, with a Gold breakout over 2000 I think the ratio between fiat currencies is becoming irrelevant. If the DXY bounces Gold could test 2000 dollars, but in that case, foreign investors would just buy the dip in their own currencies.
Somewhere, somehow it should bounce, but it's not looking good as of now.
Comments