EUR/USD tagged & reversed off the bottom of the major long-term support zone while at rarely seen oversold readings on this weekly time frame. Should the Euro continue to rally against the US Dollar from here (likely IMO), that would likely provide a tailwind for gold & silver.
EUR-USD weekly May 23rd
Zooming down to the 60-minute time frame, /E7 (Euro futures) has just broken out above the 1.0609 resistance following the breakout & backtest of the bullish falling wedge pattern & divergent low.
E7 60m May 23rd
GLD (gold ETF) made a backtest of the apex of the (yellow) triangle pattern on the weekly chart, as per the likely scenario in video coverage of GLD in recent weeks, offering an objective add-on or new long entry for GLD gold with the next buy signal to come on a solid break and/or weekly close back above the 174 resistance level.
GLD weekly May 23rd