The dollar had been consolidating below the 105.40 level — until Friday.
The dollar formed a swing low on Friday, closing above the 105.40 level. The dollar is currently in a daily uptrend. Forming a swing low and closing above the resistance level indicates a continuation of its daily uptrend and signals a cycle band buy signal. This also indicates that the ICL has been set.
In the Weekend Report I give an uptrend on the status of the dollar’s intermediate cycle.
and what will happen with gold?
Hi Bruno,
I discussed gold in the Weekend Report.
LM
So what with the silver breakout?
Best regards
Hi Koen,
Silver did get a bit stretched above the 10 day MA.
As long as silver does not close back below the 50 day MA, silver should be OK.
Silver did form a weekly swing low above the 10 week MA.
LM
Thanks!