Gold

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The star of the week, gold, failed at resistance. It struggled for days at it, and failed. If this rejection leads to the price of gold reaching the bearish flag’s measured move, then more USD strength lies ahead. Considering that the dollar was sold for the entire week so far, we should not be surprised to see a squeeze higher in the last trading day of the week.

Winners and Losers

The USD is the definite loser so far, but, as mentioned earlier, the week is not over yet. It lost ground, though, on all markets, after last Friday’s weaker-than-expected NFP report. The price of oil remains the winner of the week, even though it shows signs of weakness on its attempt to break above $60.