Inverse relationship with the dollar may also suggest a quick short as the dollar just dropped from the all time-high. The dollar may start to pull back down and if so we should see Gold rise. But not after it shorts from the next bearish order block to the nearest Bullish order block and by looking at the Commitment of Traders for Gold Futures, it appears that...
XAU is currently moving in the upward direction where we are supposdly having a correction towards 1691 if the resistance is not broken. While US (DXY) is currently showing bearish divergence. XAU always moves opposite to DXY so we can see that both are giving some good momentum in bilateral directions.
