Gold vs US dollar index
Gold recovered sharply and jumped more than $30 on dollar weakness. US dollar index pared some of its gains made this week on profit booking.
RSI in Monthly chart-
US dollar index- 81.49 (Overbought)
Bearish divergence in the monthly chart (CCI- 50) (positive for gold).
It is good to buy on dips around $1640-41 With SL around $1620 for TP of $1720
RSI in Monthly chart-
US dollar index- 81.49 (Overbought)
Bearish divergence in the monthly chart (CCI- 50) (positive for gold).
It is good to buy on dips around $1640-41 With SL around $1620 for TP of $1720
Note
Gold flying on weak US dollar. A jump to $1680 is possible.
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.
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.