Analysis based on Elliott waves, patterns repeat itself: 1980s - 2000s - 2020s
Long term prediction on US Dollar Currency Index, bottom on the DXY will be reach around 2020s.
Until that time we will see slow move down.
We are in F -> G move, which means small upward move should happen in several weeks maybe months.
Nonetheless, in long term I predict strong down ward move G -> H then I -> J , K -> L and M -> N.
If my scenario will actually happen then price of XAUUSD will move very, very strongly up - long term prediction.
Move on XAUSD will be comparable to the one in 1980s: macrotrends.net/1333/historical-gold-prices-100-year-chart
DXY is getting weaker and weaker over the time as Asia, especially China is getting stronger.
Long term prediction on US Dollar Currency Index, bottom on the DXY will be reach around 2020s.
Until that time we will see slow move down.
We are in F -> G move, which means small upward move should happen in several weeks maybe months.
Nonetheless, in long term I predict strong down ward move G -> H then I -> J , K -> L and M -> N.
If my scenario will actually happen then price of XAUUSD will move very, very strongly up - long term prediction.
Move on XAUSD will be comparable to the one in 1980s: macrotrends.net/1333/historical-gold-prices-100-year-chart
DXY is getting weaker and weaker over the time as Asia, especially China is getting stronger.
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Trade is still active, since plot is analysed on weekly timeframe then it's not perfect.I only wanted to show main trend of the DXY, to be more precise please follow analysis of daily traders.
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Price of DXY (G -> H ) will go down after December's rates hike and by the same XAUUSD will move up from recent consolidation point. Rate hike odds: cmegroup.com/trading/interest-rates/countdown-to-fomc.html
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Everything is going on as expected, XAUUSD up and DXY down.Trade active
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So far I'm very happy with this analysis.Interest rate hike carried by J.Powell on 21st March 2018 will push XAUUSD up (over 1400$/oz) and DXY down ( I -> J). However, until that time XAUUSD may go temporarily down ~1300$/oz.
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As predicted J.Powell hiked rates bbc.co.uk/news/business-43489661XAUUSD moved up, DXY was pushed down.
I'm still waiting for I -> J move and XAUUSD over 1400$
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It's not a perfect prediction but DXY moved very close to that I predicted. Please remember that I made this plot on 8/24/17 - 9 months ago!!Interest rate hike will take place on 13th Jun 2018, according to FED's Rate Monitor and FED Watch websites:
uk.investing.com/central-banks/fed-rate-monitor
cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
In both cases there is 100% for rates to be raised up to 1.75-2.00, that will push DXY down (I -> J) gold will go up.
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Hello again, I believe this analysis is still valid and DXY is going down... strongly down in the near future.On the other hand, the famous "Dollar Milkshake Theory" was completely wrong and USDXY is not in a skyrocket/supernova mode!!
youtube.com/watch?v=8hTWDaDbhRQ&ab_channel=JeffreyWilliams
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.