Loading ...UUP – Daily
Using UUP as a proxy for $USD. For those who were wondering which trend line would be the first to break – the upper T line of blue channel (ST bullish?) or the lower T line of the black channel (bearish) – it looks like we may have our answer. Because its only one day so far, the break out is not confirmed.
Top Shelf Chart Foxy…keep us posted !
Aye aye, Capt’n.
UUP is in week 12 of it’s weekly cycle with the top so far in week 5 since the ICL 25 Jan
If week 5 remains the top then that is going to turn out one heck of a left translated weekly cycle by the time we reach week 25-30
I suspect UUP is going to roll over very quickly this week.
Thanks Norvast
So you thing UUP is going DDOWN
There you go
It is an excellent big picture chart – well done silver fox – but right now we need to focus on that little dashed triangular pattern in the current weekly cycle.
Gold is moving lower into a DCL (daily cycle low) and the Swiss Franc CHF and AUD are now overdue for an ICL (weekly cycle low) plus the SPX has just entered a half cycle correction (as it does not like a rising USD).
Big week that should set gold up for an advance into late May as the USD moves lower.
As the Swiss Franc is about to host an ICL it’s first daily cycle will be very strong, which bodes well for gold and not so good for the USD.
NST.AX is my guide for gold & the miners and it should also host a DCL this week.
Thank you, Norvast. Your feedback is appreciated.
Good chart Silver Fox.
https://goldtadise.com/?p=428206
Thanks for the encouraging words, JL. And thanks for working out a possible target.
Very great and useful charts Silver Fox. Thank you.