/DX (US Dollar Index futures) remains inside the 60-minute rising wedge pattern but looks ripe for an imminent breakdown, quite likely today. If & when the $USD triggers that sell signal, gold will offer an objective long entry or add-on.
DX 60m Oct 10th
Just as the US Dollar index is poised to break below a bearish rising wedge pattern on the 60-minute time frame, EUR/USD appears poised to trigger a buy signal on a breakout above this 60-minute bullish falling wedge pattern. Should EUR/USD rally up to this 0.99565ish price target, gold & silver will most likely rally along with it.
EUR-USD 60m Oct 10th
/GC (gold futures) only a minor reaction off the 1700ish support yesterday, continuing down to this backtest of the 60-minute downtrend line, as the /DX sell signal/wedge breakdown is still pending although one could certainly make a case for an objective long entry on this backtest of the trendline (support) from above.
GC 60m Oct 10th