We looked at number of Dollar charts, including the DXY itself, and the conclusion is that risk is skewed for more weakness next week. It is bouncing off around the 200-day, but has the February 2018 trend-line to contend with. On further weakness there is room down to the trend-line from September 2018.
The Euro could be posting a short-term bull-flag if price can stay buoyed, something it has not been able to do after strong rallies for quite some time. Perhaps a change in character is under way.
Gold, as seen in the chart below, is sneaking its way higher above the upper parallel of the developing bull-flag. It could be time for gold to start challenging and breaking the 2011/12 resistance levels that have so far kept a lid on this year’s advance.
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