Although I've put this chart out before I've added some detail I hadn't really noticed, the diamonds, and the trendline
it is currently hovering just above. The interpretation of the third final diamond has me scratching my head a bit as where it should have gone up making a third wave inside the structure it didn't, so there's a bit missing, where did it fall/has it fallen out etc? (Something went a bit wonky. It might simply correct itself, but as to possibilities I hope folks can see why I'm avidly searching the gold
chart. From my perspective, major currencies pairs etc, that sink in metals was about the only thing holding the dollar up & some lingering on the Yen.
That rising support line, well tested, may be strong enough, but if the DXY
moves down, it has a 'slip gap' on/near the convergence. eg. Aug 2012.
This corresponds with what I think is a fundamental shift of perception, view point etc. of the dollar/US economy
Crude ( CL1!
), using this chart maybe looks about to break out upward, really seriously parting company, which they do, if it hasn't already more or less left the building, a step or two more ...
If there is no taper next week, then suggestions from other charts ...
Monday currency futures
expire. FOMC later week. It is a very crucial time.