Chart Of The Day: Is The USD 7-Year Bull Over?

The next days are key for the US dollar. If the bounce over the past few days was the start of a new daily cycle, then Gold will drop into a hard daily cycle low.

If, on the other hand, the dollar forms a swing high and closes significantly back below the 10DMA—and more importantly follows through to the downside—it will signal that the bounce was a counter trend move and the dollar is going to test the August lows before the cycle bottoms.

If this scenario plays out then the 7-year bull market in the USD is over and I will guarantee that the bear market in gold is finished

US Dollar Index Daily

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