The price of the US dollar index continues to follow the long-term trend of the year and remains in line with the plan from last week’s update. The price is still in an upward correction trend from the small L1 to the small T1, and upon closer inspection, it is moving from A to B (corrective wave within the second million-dollar pattern).
The overall trend is still downward towards the price range of 101.2 – 101.5. However, unlike last week, the price has moved sideways enough for the system to confirm the upcoming downtrend. This is sure to directly impact the future trend of gold prices.
Therefore, stay tuned for updates on the gold price trend this week along with the next update on the US dollar index.
Wishing investors successful and insightful investment strategies!
By. Pham Thanh Bien
