• 10 hours Are Bitcoin’s Environmental Risks Overblown?
  • 17 hours Why The Gold Rush Ran Out Of Steam
  • 3 days Coinbase IPO Explodes, But Fails To Keep Its Momentum
  • 4 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 5 days The Pandemic Has Culled The Middle Class
  • 6 days Legacy Automakers See Massive Spike In Sales
  • 7 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 8 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 10 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 11 days How Fintech Will Get Skeptics Into Crypto
  • 12 days Monday Markets Rise On Stellar Jobs Report
  • 15 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 19 days Canada May Become Leader In Booming Battery Market
  • 20 days Nearly 42% Of All Amazon Reviews Are Fake
  • 21 days Kidnapping Is Big Business In Nigeria
  • 22 days COVID Fraud Amounts To Nearly $570M
  • 24 days Art Is Now An Algorithm
  • 26 days TikTok Threatens America, Tesla Threatens China
  • 26 days Small-Cap Energy Sectors With Big Upside
  • 29 days Coinbase Valued At $68 Billion Ahead Of IPO
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