The word in the financial media is the Trump tweet created the fall in the USD and lift in gold. Seems a little too convenient to blame him everytime this happens especially as it occurs on a channel edge. But if that is true I can’t see much confidence in the USD breaching .95 again.
So with a very powerful 4 hrly doji candle it appears we have seen the bottom at 1210.
A very long and at times stressful trend with a lot of consolidation. Talk about needing the wisdom of Solomon and the patience of Job.
The trend change should form over the next week.
I can see us getting to 1365 again but will need to break channel lines to get there. We just don’t know what’s in front of us re news and fundamentals.
The Fed will not be impressed that a President has second guessed their Chairman’s plans for rates. Let’s see what comes of that!