Usdx
GOLDThink Gold needs a bit more buyers to get through 1270+. Maybe it will find those buyers at the low 1200 mark or just below it?
We will see.
USDX prediction for the next 7 daysI believe the USDX will climb to 96.71 with a possible spike to 97.20 in order to take out stops and take liquidity.
GOLD SILVER RATIOGreat breakout followed by a nice pull back. Gold and silver ratios trending higher usually means lower precious metals prices. Oddly enough, the breakout came because gold outperform silver. This breakout on the ratios may suggest that the metals are going to take a breather before the next leg up but If current market conditions continue, this indicator may prove false and gold will continue to go higher leaving silver behind.
Target on gold and silver ratios is 86-87, you will find me buying silver at those levels!
DOW US30Market seems to be running out of steam especially without stimulus. Higher rates is no bueno for the market. I don't believe this market is sustainable at these levels without more QE.
USDX FORECAST WEEK(S) AHEADUSDOLLAR looks bearish for the beginning of the week with a reversal around the 162Fib later in the week. Have not yet checked the most "suitable" data-releases for a reversal in the coming week.
USDOLLAR INDEX H4 FORECAST NEXT WEEKUSDOLLAR INDEX H4 FORECAST NEXT WEEK: I think price will drop into 72Fib and then move up to 162Fib.
But i have doubts about the upmove to 162Fib since both COT-data and accumulation-levels signal bearish developments.
Another conflicting source is the seasonal chart of the USDX . This chart show clearly that USDX weakens in pre-election period.
COPPERLooks like copper is trying to carve out a bottom. A break of this wedge might be a hint that it is.
USDJPY115 was a big level but it didn't hold. Dollar is weak across the board. Shorting is the way to go for now.
USDX Bearish divergence It needs a clean break and at least two daily closes below 99 - 50% of bearish mother candle for confirmation.
There's also a big probabily of a stop hunt above indicated pin before the direction is set.
USOILPaying close attention to both of these levels. Look for Bullish candle to confirm a long. Watch out for the H&S, could be bearish.
