The market gives a trend reversal signal. The Head & Shoulders chart pattern tells us that the uptrend is over and we should expect further downward movement. MACD and DMI confirm the market falling. Entry level can be at 1326.00 with stop orders above the right shoulder at 1352.00 level. Profit targets are 1300.00 and 1250.00 support levels.
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@red2000, Personally I see DXY rallying like 2-4% from the bottom. 5% being extreme in just a couple weeks. I just see it as a small correction that will push gold prices down and make them more attractive to enter long again. That's just my thought though.