Being a dollar bull is tiresome...but if $90 puts in a double bottom, hello $93! (orange line) RSI (7-day) took initiative and put in a double bottom already (despite declines).
LT, I may get cold feet if we lose $90.
Pullback...sell off...consolidation...call it whatever you want, EU needs a break. The pair has traded in a lower timeframe (see 4hr timeframe) rising wedge since midway through December and is now testing a 1.2250-1.2400 sell zone not seen since April 2018 (see Weekly timeframe). On the fundamental front, more focus is being placed on the global vaccination...
Gold’s returns in 2020 were easily dwarfed by silver’s and looking at the price chart... there is a decent chance this continues in 2021. Silver has broken out of the triangle it traded in for most of the backend of 2020 and whilst there is still some resistance ahead, even greater upside makes silver very attractive.