USD
USD BO-UP its’ BULL FLAG on the daily recently including small and quick BT.
USD-daily needs to get above dMA(200) @ 103.37 as well needs follow trough above 105. Once that has been achieved … USD can FLY & RALLY. Such is possible as the FOUR HORSEMAN (MACD-TSI) indicators are positive with TRIX ‘about’ to confirm the BO & upcoming USD-rally … even though STO is high but a RSI having room to go higher.
When looking at USD-weekly: need to see how the week closes but as of todays’ close … USD is against the RES-line of the (assumed) RED Dashed BULL FLAG.
A BO seems possible and imminent and possibly tomorrow or any day soon. Meanwhile USD above the important W-EMA(30) @ 102.75 and should give support going forward. On this weekly you’ll see a HOR thin dashed line @ 104 and is something to watch. Once 104-106 is taken out; USD could FLY SUDDENLY as 107-112 is thin. Indicators are positive but IMO needs some more work but it seems getting there.
A BO on this USD-weekly chart will have significant impact on Precious Metals (and markets). While we can see that (f.e.) SILJ is on thin ice (as for support; chart not enclosed) and could actually JUST DROP and Au today lost 1,900 battle (chart not enclosed). Therefore inverse stating … USD about to BO-UP its’ Bull Flag (on the weekly) while PM DROPS.
W-EMA(30) is Line in the Sand for USD short term (on a weekly closing basis).
This is a follow up on USD: https://goldtadise.com/?p=588842
IMO.DYODD.
Thanks for the charts. Since the USD is only a measure against other trash currencies I’m not so sure PMs will drop in tandem.
“USD is only a measure against other trash currencies”
Its more than that. Much more.
Right now, since there is in excess of $300Tr in global debt, and much of it was lent in borrowed in $, its the price of sourcing and servicing that debt (including rollovers of maturing debt).
IMO, this is the corollary to the SPX chart I posted. $ up, then SPX and RISK ON (of all kinds) down. In EW terms we might be on the verge of a Point of Recognition move, if the nested bear counts are correct here. That would be N/G’s breakout.
Thanks for that.