DXY is getting weaker and weaker over the time as Asia, especially China is getting stronger.
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Trade is still active, since plot is analysed on weekly timeframe then it's not perfect. I only wanted to show main trend of the DXY, to be more precise please follow analysis of daily traders.
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Price of DXY (G -> H ) will go down after December's rates hike and by the same XAUUSD will move up from recent consolidation point.
Everything is going on as expected, XAUUSD up and DXY down.
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So far I'm very happy with this analysis.
Interest rate hike carried by J.Powell on 21st March 2018 will push XAUUSD up (over 1400/oz) and DXY down ( I -> J). However, until that time XAUUSD may go temporarily down ~1300/oz.
does Simon Says further dollar weakness last week of November? Gold Bull beginning here?
Simon_says
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@faronf, I believe gold is building consolidation pattern for near future upwards movement. While DXY is testing lower lows and will move strongly down soon, but can't give you exact data.