Good day traders! Today’s article is about gold and usd index.
Gold is moving nicely higher, now in red subwave b) which seems to be running into some short-term Fib. resistance level that may limit current intraday rally against the yesterdays sell-off which was very strong, so we assume that bears will remain on the stronger side.
Gold, 1H
USD Index is trading in a three-wave bearish decline. We see price trading in the middle of a corrective wave iv, that can search for limited upside near the Fibonacci ratio of 50.0 and make a new drop lower.
USD Index, 1H
