Right on Queue …

October 8, 2012

The dollar formed a swing low overnight.

Should the dollar break above the declining cycle trend line then we may have a new daily cycle in play.
I am in observation mode right now.
We could see the dollar tag the declining trend line and reverse lower.

Gold formed a swing high right on queue from the dollar.

Gold tagged the trend line extended from the 8/15 pivot.
Remember on 8/15 gold started a run that over the next 23 days that saw 73% “green” days.
If gold recovers here, then it would appear that gold has set its daily cycle trend line.

So unless the aforementioned experiences a trend line break,
It is nothing to spill your coffee over …

6 responses to “Right on Queue …”

At Ease

October 8, 2012

Thanks LM for the early morning update! 🙂

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Hammerman

October 8, 2012

Longer term, the USD just dropped under the Feb 2002 to June 2010 upper trend line estimated at 79.8 today (after breaking above the line in May 2012 and then retesting in Sept 2012- now possibly failing the retest at month 8). Who knows what happens next though..

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nikeboy 2008

October 8, 2012

thank you for the update

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Pamela

October 8, 2012

Thank you LM.

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vorfahrt

October 8, 2012

Thanks LM. Today still no decission, but it does look like the US$ will win the battle here.

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