As far as gold is concerned it is certainly possible that strengthening USD index will have less downside affect on the price of gold, but that remains to be seen.
For Fibonacci levels refer to the previous XAUUSD daily chart.
As always be cautious.
ZGM7 – CBOT June Gold Intraday (120 minutes) channel chart
2 comments:
"certainly possible that strengthening USD index will have less downside affect on the price of gold"
You mean rising USD should NOT pressure gold down as much?
Frank
Yes, based on Inter market relationships, waves and sentiment – that’s exactly what I forecast.
A rising USD which is coming shouldn’t have a big negative on gold , considering the recent pullback market might already priced a USD rally ,
That’s remained to be seen…
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