Potentially the EURO (XEU) topped last week. Back-Test (BT) could have been completed; even some indicators suggest such. FORKS (RED/BLACK) gives a match while there is some wiggle room on Horizontal Resistance (HOR.RES); both higher (109) /lower (104). Charted CYCLES suggest a TOP is in. Arguments for such is that on CYCLE-TOPS (or LOWS), I often see both TOPS & LOWS on the chart at more/less (relative) same moment which means a TOP for a larger cycle and a low for any inter-cycle (and vice versa). Such could be the case for this EURO-chart and, IMO, gives validity to the charted cycles and gives validity to an intermediate LOW (October-2022) followed by an intermediate (possibly Last) HIGH/TOP (January-2023). In general, the EURO is declining. Even based on charted cycles which show downward pressure going forward as demanded by larger cycles influencing smaller cycles within.

The question which follows is: will a EURO-decline be negative for $GOLD? Some see an imminent decline in USD and argue that such would be positive for $GOLD while others believe that a decline in EURO makes USD stronger where both USD and $GOLD rises. I have presented the inverse comparison of $GOLD and USD. While occasionally (1  year) they move together while in general, they move opposite.

https://goldtadise.com/?p=563838

IMO. DYODD.

ADDED: little pink RES-line.