If Dxy breaks above $93.40 Gold will start heading down once again ! At present Dxy is $93.32 Gold
seems tied to Dxy lately so we will be keeping eyes peeled for the DXy . Gold & Dxy have a direct inverse relationship here last couple of weeks but this subject to change at any time, so always be vigilant & keep many indicators when you do trading and don't just count on one !
My gold chart depicts downward sloping trend shark, :-) volume is very weak, stoch/Rsi pattern looks like a possible water fall effect; and (tradingview's very own and new candle stick pattern recognition tool) showing BE bearish engulfing ! All of these things or short term bearish being a 1hr. gold chart .
seems tied to Dxy lately so we will be keeping eyes peeled for the DXy . Gold & Dxy have a direct inverse relationship here last couple of weeks but this subject to change at any time, so always be vigilant & keep many indicators when you do trading and don't just count on one !
My gold chart depicts downward sloping trend shark, :-) volume is very weak, stoch/Rsi pattern looks like a possible water fall effect; and (tradingview's very own and new candle stick pattern recognition tool) showing BE bearish engulfing ! All of these things or short term bearish being a 1hr. gold chart .
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5 min to close Dxy $93.3 10 cents of from what we were watching gold has gone back some as the result .
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I believe today we should see some pull back in Gold's price action but if the Dxy can make it back over that $93.4 mark & stay above this level, like i discussed in yesterday session than we should see a significant Retrace ? At the present time Dxy is @ $93.26 down 7 cents .
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