Loading ...Dollar Mania
Lots of Dollar Charts from many different platforms and angles
I use Netdania and this is my view . No break yet
However I think we are all looking at the wrong chart vis a vis Gold
The Dollar has become irrelevant for now. Gold is NOT tracking the Dollar Index.
The Dollar Index is basically the Inverse of the Euro. The Euro is up large this morning and Gold is Down $11
Why ? Because Gold is Married to the Yen ( which is a mere 13% of the Dollar Index)
Now the good news for Gold Bulls
The Dollar:Yen has broken down from an obvious Top with a retest
The Bad News …it has broken UP out of a down trend.
That’s right, still giving the USD a leash to flop around within the range it has traced out support and resistance levels. Watching it to ultimately see if there is a trend change. As everyone knows its testing the downside support at this time. Its either in a shakeout prior to advance or setting up for a breakdown. The commodities which trade off of the dollar USD & Copper suggest the break will ultimately be to the upside for the USD, but that is conjecture at this point.
So its best to watch and wait… exercising ones patience.
The issue is people look at dxy as the dollar chart when it’s over 2/3 euro..all over web yest people bugging gold down and dollar down because they were looking at dxy which is garbage.