US$ breaking down & Gold mowing up
US Dollar index has been stuck in a range between 89.5 and 90 for about a month. It also couldn't break out above the 50-day moving average. After trailing the resistance at 50-DMA for a couple of weeks, USD is breaking down. It might retest the resent lows near 88 over the next week or two.
The break down in the US Dollar might help gold strengthen for a couple of weeks. However, further than that, gold is usually weak going into summer.
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An excellent analysis of an inverse correlation of 2 markets. Here are my long term, multi year targets of the US dollar and Gold.
US Dollar
Gold
Do you have any longer term targets??
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