The EUR/USD is currently backtesting the bullish falling wedge pattern following yesterday’s breakout. The ideal scenario for the precious metals, the miners & other dollar sensitive assets would be a successful backtest here with prices moving higher to take out yesterday’s highs. A few near-term resistance levels/targets are listed on this 60-minute EUR/USD chart:
EUR/USD 60-minute Dec 2nd
Should the US Dollar fall against the Euro in the coming days/weeks, as expected, GLD & SLV would likely take out these near-term downtrend lines, which would be bullish for the precious metals & mining sector.
GLD 60-minute Dec 2nd
SLV 60-minute Dec 2nd