goldenBear88

DX gaining upside momentum

לונג
TVC:DXY   מדד מטבע דולר אמריקאי
DX general commentary: Current Fundamental environment is not Gold friendly and it is not going in Buyer's favour certainly. With DX dangerously approaching #110.180 Medium-term Resistance, fractal which can pierce the trendline on U.S. Dollar's bigger charts (started on November #1,985. Year, peaked on December #2,002. Year aswell) and if #110 Resistance breaks, it may skyrocket the DX which will heavily pressure Gold regarding the Long-term towards Upper Resistance Fractal. U.S. Dollar is Trading on huge gains as Investors are parking their capital fleeing from Euro which is on record Low's, Lowest level since November #2,002. Year. All this mix displays very Bearish picture on Gold. Needles to mention, DX will continue rising and if Resistance zone breaks, I am expecting #121.800 within #40 sessions.

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