US Dollar Breakout: Can Gold Bulls Hold the Line?

From goldpriceforecast.com

Breakouts in greenback pushed the yellow metal under Monday’s gap. Can we trust this move? The first thing that catches the eye on the daily chart is the breakout above the 50-day moving average and the short-term red declining resistance line based on the previous peaks. Thanks to this move, the greenback also moved above the upper line of the orange consolidation, which suggests that further improvement should not surprise us – especially when we factor in the buy signals generated by the indicators. However, please keep in mind that the above-mentioned developments could be consider as bullish if we see a ... (full story)