Hello everyone, today is Monday, November 21st.
Last week, the US dollar finally rebounded after continuous fluctuations at low levels. This is what I have been telling you last week. The rebound of the US dollar will inevitably be accompanied by the decline of gold. So have you made short orders in gold?
enters this week, and it is expected that the US dollar will expand its rebound range. Although the space above is also limited, it will definitely get rid of last week's oscillation range, break through the oscillation high point, and test the key above to suppress the 108 line, and gold will continue to fall downward driven by the rebound of the US dollar.
The medium- and long-term view of the US dollar is still maintaining the strong US dollar, and it is difficult to reach the top directly. So what I have always said is the adjustment market of weekly line when the US dollar fell, and the end sign of the weekly line adjustment market is the oversold of daily line RSI. The rebound of the US dollar is not under the premise that the daily line RSI is oversold, so I think the rebound of the US dollar will not be very large, and it is not a bottom-down rebound.
So focus on the suppression of 108-109 above.
USD 4-hour chart. Once this chart is put, you should be able to see that the US dollar will most likely fall back in the future. After the US dollar bottomed out at the 105.2 line, it began to fluctuate upward, and the 4-hour fast and slow line low golden cross runs upward, but in the process of market fluctuation and upward, the trading volume gradually shrinks, which is very similar to a bearish relay pattern. Of course, whether it is established or not, it still needs to see the direction of the breakthrough.
According to previous expectations, I definitely think that the US dollar has not fallen yet, so I think this bearish relay is likely to be valid, but the rebound is not over yet. short-term continues to maintain the bullish US dollar unchanged to the 108-109 line.
