Looking at Gold & the Dollar

0

Gold continued lower on Thursday.

gld

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s