US dollar has been through a hard time. Since the gold price had been going up for a while, the US dollar was influenced so much. So, we can observe a downward trend with a stable slope. Now, we can see that the price seems to recover.
I think it could be a retracement.
The price is forming a rising wedge, which is a bearish signal. Also, from the MACD lines, we can see that the blue line is about to cross the orange line. RSI is going down as well. The Bollinger Bands is widening, which means the fluctuation would become great.
So, the price could be forming a rising wedge and go down in the near future after the wedge is formed.
I think it could be a retracement.
The price is forming a rising wedge, which is a bearish signal. Also, from the MACD lines, we can see that the blue line is about to cross the orange line. RSI is going down as well. The Bollinger Bands is widening, which means the fluctuation would become great.
So, the price could be forming a rising wedge and go down in the near future after the wedge is formed.
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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.