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GLD

$DXY and Inflation$DXY, the U.S. Dollar Currency Index has been steadily declining for some time now. Based on a chart analysis, we can see a double-top formation followed by a price consolidation that ultimately led to a breakdown once closing under a support trend line. After a fall of about 4%, an attempt was made to retrace. After a pullback, a second attempt was made, but that uptrend was much weaker, leading to the current downtrend. (Also noteworthy is the death cross of the 50SMA below the 200SMA which was followed by a strong bearish candle the next day). As the USD's value falls, we are getting closer to inflation, however it is approaching a support line. Additionally, GLD and SLV, the Gold and Silver ETFs have been on a strong bull run lately. While DXY may look to reverse back into a stronger value area, Silver and Gold, which are strong fallbacks when the value of the USD decreases, may look to pair the DXY reversal with an inverse price action.
TVC:DXY
by nmatto
2
US30/DOW H4: 10% upside remains / buy shallow dips(NEW)Why get subbed to to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates US30/DOW H4: 10% upside remains / buy shallow dips(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: US30/DOW H4 chart overview and outlook ::: chart looks good / more upside likely ::: accumulation in progress right now ::: previously coming from strong base ::: repeating same pattern now ::: TP bulls is 28 500 / 28 750 points ::: recommended strategy: BUY dips TP 28 500 ::: overall US stock market pretty resilient ::: until we hit 28 500+ there will be no ::: correction. just BUY dips and make money. ::: good luck traders 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment mid-term: BULLS ::: Sentiment outlook short-term: BULLS
ULong
by ProjectSyndicate
3