The U.S. Dollar Index (USDX) – has been around since 1973. USDX is computed using a trade-weighted geometric average of six currencies. The six currencies and their trade weights are: Euro -- 57.6% Japan/yen -- 13.6% UK/pound -- 11.9% Canada dollar -- 9.1% Sweden/krona -- 4.2% Switzerland/franc -- 3.6%. USDX chart is showing a pattern of Head & Shoulders and the target = 81.5, could bounce back into the triangle , 61.8% line = ~85 =important support. I wouldn’t bet on it but the USDX can stay in the ~80 - ~92 trading range for years.
Gold in terms of Euro is showing similar pattern like Gold / USD , not surprising – is it?
click on the charts below to enlarge:
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