USD is seemingly okay, on its way to higher levels. But the daily MACD has diverged bearishly and has taken the form of a head & shoulders. A drop below MACD zero would activate the potential to end the rally and re-test the lows.
The dollar and euro are doing the dance of confidence, which swings from one to the other… doe see doe…
Gold, and the current PM leader silver meanwhile, firm up and bide time.
Edit (7:50) As you may have noticed, I do not have consistent access to the blog or the markets and silly financial media the first half of this week. As such, I just noticed this bit of hilarity from thestreet.com under the title Goldman Sachs Sinks Gold Prices:
NEW YORK (TheStreet) — “Gold prices Friday were dropping steeply as investors traded out of riskier assets like gold and into the U.S. dollar.”
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