DXY/XAUUSD: Terminal pattern spotted
Updated
It appears we'll see a forceful rally in the dollar (and a similarly fierce drop in gold) in the coming days. The terminal pattern on chart implies we'll reach May 30th's high in 1/3 of the time that forming the terminal triangle took, counting from August 18th's daily low.
The post pattern confirmation demands the time and price target is met, so, to be a valid terminal triangle, we need to see a really sharp move here, that will catch most people off guard.
The trade idea, in the case of DXY, is simple, you can refer to my DXY publication in related ideas. As for gold, you can enter shorts at market, risking a move above 1321 in the XAUUSD chart, which is very aggressive, but in line with the technical and fundamental key levels on chart.
Good luck!
Ivan Labrie.
The post pattern confirmation demands the time and price target is met, so, to be a valid terminal triangle, we need to see a really sharp move here, that will catch most people off guard.
The trade idea, in the case of DXY, is simple, you can refer to my DXY publication in related ideas. As for gold, you can enter shorts at market, risking a move above 1321 in the XAUUSD chart, which is very aggressive, but in line with the technical and fundamental key levels on chart.
Good luck!
Ivan Labrie.
Note
Breaking under last week's low isn't good for USD bulls. I'd expect further downside.Note
This ratio has been quite good. Now, we can look for a long on a new daily high tomorrow.
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