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Pause in US Dollar Rally

Ross Clark
Charts and Markets
Posted Sep 11, 2024

The US Dollar has rallied well since the buy signals at the cycle low one week ago. It is now at the 20-day EMA and likely to pause, which will take some of the negative pressure off the gold price. Gold will likely see a deeper break if the moving average turns higher and the Dollar crosses above it (red circles). Gold's low on September 3rd is considered a key support level for traders.

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Ross Clark
email: rossclark@chartsandmarkets.com

website: www.chartsandmarkets.com

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