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Happy Monday Everyone!
Now that we have Gold…and Crude Oil for that matter…rallying in the Commodities Complexes, how have Currency Units been affected the last couple of days?
First things first, though…let’s quickly Recap our beloved Queen!…and see where Pound Dollar has started the week…here is the Hourly View.
Be sure to click on the Captures, as most of the commentary and analysis are within…
( Post-Time is 3:45 GMT)
Let’s examine these recent events by a look at another correlated Gold Pair…the USD/CHF…the Swissy.
Due to the inverse correlation we have with Gold against the Dollar…the Dollar is pulling back against most adversarial Currencies on its’ journey.
Our Breakout of the Symmetrical Triangle here on the Hourly Gold Chart did follow through Friday, so let’s see where we are…
Here is the Swissy on the Daily view… we are seeing a pullback in Gold as of this writing..so some bullish Dollar strength is obviously evident in the Swissy.
We shall see how we progress throughout the day, and check in for an Update on all three Units if need be…otherwise let’s continue with them for a couple of days.
These key levels and the potential depth of the pullbacks and corrections need to be adhered to, so let’s see how we fair.
As always… Remember these Correlations…and ALL Correlations…will couple and decouple according to their own fundamental and inherent factors…so be sure to view each Unit on its’ own merit.
