Gold and the Euro (represented by FXE) Periodically Disconnect for 1 month.

This is happening right now. One can understand this present negative disconnect.

A Strengthening Euro represents stability in Euroland which is Negative for Gold

Now Assuming Macron Wins Today….one would expect the Euro to follow through on its breakout

and for Gold to follow through on its breakdown as the negative correlation continues.

As we know from Trumps victory assumptions can be problematic ( Gold was supposed to rise)

However here we are with a Budding Euro breakout and a cascading gold price.

Interesting times