Weekly Technical Forecast: Dow and Gold Build Pressure to Clear Important Highs as EURUSD Reverses
Gold has closed out an 8-day advance through Friday to secure the best week’s rally in three years. Now the real technical decision as the market faces a key resistance to a big-picture bull trend that stretches back to 2013.
Crude oil turned downside momentum around last week, setting it up for more strength in the week ahead; how much power it has, though, is questionable.
It was a brutal week in the US Dollar with the bullish trend of the past eight months coming into question. But can sellers continue to push to evoke a deeper drawdown?
The Australian Dollar mounted a spirited recovery over the past two weeks but the dominant downtrend against its US counterpart may be ready to resume.