Looking at Gold & the Dollar


Gold continued lower on Thursday.


After peaking on day 18, gold formed a swing high to begin its daily cycle decline. Thursday was day 24 for the daily gold cycle placing gold in its timing band for a daily cycle low. A swing low and a declining trend line break will signal a new daily cycle.

Gold will likely to continue lower until the dollar forms a swing high.


The dollar continued higher on Thursday, closing above the declining trend line and confirming a new daily cycle. The close above the upper daily cycle band signals that the dollar continues in its daily uptrend. The dollar will remain in its daily uptrend until it closes below the lower daily cycle band.


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