• 13 hours A Russian Billionaire’s Space Quest To Save Humanity
  • 16 hours Markets Take Breather As Consolidation Continues
  • 18 hours Economic Woes Weigh On Copper Prices
  • 21 hours World's Largest IPO At Risk Following Drone Strikes
  • 2 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 2 days What’s Behind The Silver Sell-Off?
  • 2 days The Retail Apocalypse Is Accelerating
  • 2 days The Top Tech Stocks Of The Year
  • 3 days America’s Workforce Elderly Workforce To Double By 2028
  • 3 days Toyota Tests Solar-Powered Prius
  • 4 days Why The Gold Rally Flatlined
  • 4 days The Uranium Sector Can’t Catch A Break
  • 5 days Upcoming Fed Meeting Has Investors On Edge
  • 5 days Global Gold Sector Outlines Responsible Mining Principles
  • 6 days China’s Giant Vampire Fund Loses $120B
  • 6 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 6 days Savvy Investors Are Betting Big On This Little Data Company
  • 7 days How The Government Is Wasting Tax Money This Year
  • 7 days Supply Concerns Halt Expansion On Tianqi Lithium Plant
  • 7 days The World’s Biggest IPO Is Almost Here
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Surf City

Surf City

Surf City

Surf City is 60-year-old retired Information Technology Executive and Software start-up Entrepreneur living near the beach in California. He has been an active investor and…

Contact Author

  1. Home
  2. Markets
  3. Other

Cycles for Gold and USD

Did Gold find a Trading Cycle Low last Friday? Perhaps. Silver was definitely leading the way as it often does at bottoms. But Silver also delivers many head-fakes and with the USD is due for a new Trading Cycle bounce, Gold will likely move lower next week.

My first chart on the USD, shows it is deep in its timing band to find a DCL or short term Trading Cycle Low. Thursday may well have been the TC Low I was looking for. If so, to confirm a new Trading Cycle the USD should close above the 10ema and then test/break my Red down trend cycle line.

I also show the USD in deep in its timing band to start its move into its next 5-6 month Intermediate Cycle Low (ICL). If I am correct, the USD should top quickly to form a H&S pattern before moving into its next ICL. Next weeks trigger points for a cycle turn are the FMOC on Wednesday and NFP on Friday.

US Dollar Index Daily Chart

If the USD does bounce at least into the FMOC on Wed, then Gold and the PM Complex will likely move to a lower low next week, perhaps testing the 50% Fib level at 1172 (62% is at 1161). Gold is on day 28, however, and towards the later stages of its normal timing band to find a DCL or TC Low as well. And it I am correct that the USD will move into its longer IC Low, then Gold and PMs, should have a very bullish second Trading Cycle out of the Yearly Cycle Low in December.

Daly Gold Chart

 

Back to homepage

Leave a comment

Leave a comment