Loading ...Gold in Euro and Yen Linear…
Gold in Yen above failed to break out of its bullish pennant. If the white line breaks, as I believe it will, Gold could create a bigger bull flag in the Yen like the dollar or maybe a pennant?
Below one can see that Gold in the Euro has already broken down and backtested. Maybe a major bull flag/pennant could form here too.
Hey Chuck
IF your Dollar Thesis is correct we may see breakouts in Gold around the Globe
Some currencies are on the brink .
That will be interesting
I edited my comments because I had that same thought which could be a possibility.
If we see $700 gold in the dollar, maybe gold just meanders sideways to barely down in these other currencies for more major bull flags/pennants everywhere?
Then in the mid 2020’s when gold backs the new global currency it breaks out of all these major consolidations…