Gold has spent the last 2 months consolidating within a flat bottom triangle.
Gold has spent the month of March moving higher in a channel, but the last couple sessions we have stalled at the 61.8% retracement of the February highs to March lows at $1321.
Gold has spent the last couple of weeks consolidating its gains in what looks like a bull flag.
During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
Both popular precious metals (gold and silver) posted key reversal days today.
Gold and Silver are assets which have been of great importance for thousands of years. Up until a few decades ago, gold was explicitly linked to currencies (such as the US$) and was broadly used as money.
Watch this comprehensive preview from Nicola Duke preparing you for what is coming ahead this week using her unique Harmonics approach and mesmerizing voice.