Sharp Drop On USDCHF Can Be Positive For Gold

21 בנוב׳ 2022

An ending diagonal is a special type of pattern that occurs at the end of the trend. Normally it causes a sharp reversal as it happened recently on USDCHF. The question is where we go from here? Well, we have five waves down on Swissy which means more downside is possible after a three waves up. And if that would be the case then Gold can rally further based on strong correlation between CHF and GOLD.