The DXY is getting interesting in this 97.70 area. Resistance for now but keeping a close eye on the next few days for the possibility of a bullish reclaim.
Mentioned this possible GU failure last week.
Got the break on Monday and retest on Tuesday. Simple. The next big test is the 1.3400 region.
That GU trend line is from the YTD low. Big test coming up.
In other Hand. These gold SPs have worked out nicely. Now we have a BSSP at $3,317 following this selloff, which is near the top of a local descending channel.
I'm still eyeing lower prices following the weekly breakdown from the 2025 trend line I've discussed recently.
Possible path as the DXY hits resistance in the 97.70 region. Let's see what we get. Remember that these paths are not forecasts or predictions. They're just one possible path "if" conditions remain constant. No guarantees.
Side note for gold. The 6-day composite value area low is $3,322. That's also the 61.8 Fib.
A "composite" in TPO terms is simply the combination of multiple periods within a range. So if you merge the last 6 days for gold (because it's been mostly sideways), the VAL for that composite is $3,322.
I hope these updates help and I'm not just spinning my wheels. Not a lot of reactions to them considering we have hundreds of people in here every day.
