It appears the usd has some room to run still until it reaches a higher time frame resistance area. I expect a volatile week because of significant event risk. inflation and J Powell is on the docket. In my opinion. To start the week, I expect the dollar to continue to fall towards near term support. The usd is vulnerable under 11850.00,in my opinion, and may retest the main support lower down on a break down of said price level. In the event inflation comes in hotter than expected we may see a run up to test the " key price area" i have outlined. Then it all depends on Powell"s statement for the determination for a possible break out of the range or drop back down under 11850. Never the less, the upside seems limited, as there is, what appears to be strong resistance higher up.
Comment:
potential gold set up if the usd analysis plays out and the correlation holds true in my opinion
Comment:
s3.amazonaws.com/tra...shots/u/uH5mjetr.png potentialgold set up here
