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US Dollar Bottom - Gold ICL Confirmed

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Posted by Gary Savage - Smartmoneytracker

on Wednesday, 05 July 2017 05:21

It appears the US Dollar has bottomed following an intermediate degree correction. This suggests that the dollar will rally for 6-8 weeks while gold heads lower. Gold has decisively broken down through its 200 dma. Traders are in a bull market mentality and will try to buy gold’s dips until sentiment becomes bearish. Expect gold to continue lower over the next 4- 8 weeks.

 

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