US Dollar and Gold
It is clear the inverse correlation that exists between gold and the US dollar. These charts are very interesting. The daily DXY timeframe shows the 50SMA crossing over the 200SMA. On the other hand, GLD made a new all-time record high weeks ago. What it makes it interesting is that price has been rejected by the downtrend line (GLD).
The SPY seems bearish right now, and the VIX is gaining momentum.
These may be good reasons to believe that Gold might keep going higher and the US dollar keep going down. We need confirmation.
If we keep trading simple, Charles Dow's final observation was that, by their very nature, trends tend to continue rather than reverse.
The SPY seems bearish right now, and the VIX is gaining momentum.
These may be good reasons to believe that Gold might keep going higher and the US dollar keep going down. We need confirmation.
If we keep trading simple, Charles Dow's final observation was that, by their very nature, trends tend to continue rather than reverse.
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