Correlated assets, Great impact.
Here ladies and gentleman we have the US dollar and GLD futures.
In DXY we are currently in a nice little wedge and already breaking to the downside.
Below are 2 highlighted supports that I'm seeing that could potentially be reversal points since the dollar has been in the upside since May.
We all know what this means for equities:)
In gold we are looking at a bearish descending triangle with a little bit more push to the upside of about 3% or so before resuming to the downside.
Personally I think for the dollar to reverse to support 2 that gold would go higher and push out to the upside of the triangle.
time will tell,
That's all folks
In DXY we are currently in a nice little wedge and already breaking to the downside.
Below are 2 highlighted supports that I'm seeing that could potentially be reversal points since the dollar has been in the upside since May.
We all know what this means for equities:)
In gold we are looking at a bearish descending triangle with a little bit more push to the upside of about 3% or so before resuming to the downside.
Personally I think for the dollar to reverse to support 2 that gold would go higher and push out to the upside of the triangle.
time will tell,
That's all folks
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