Gold/Dollar-Multi year breakout, says Joe Friday

Published here: http://www.zerohedge.com/news/2017-09-08/golddollar-multi-year-breakout-says-joe-friday

Gold has been weaker than the US$ since 2011 highs, highlighted in Gold/Dollar chart below. The ratio is attempting to do something this week that it hasn’t been able to accomplish the past few years-

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The ratio has traded sideways for the past three years, inside the blue shaded zone-

Joe Friday Just The Facts Ma’am– Gold/Dollar ratio is attempting a breakout above dual multi-year resistance this week at (1).

Gold/Dollar strength in the past has been positive for Gold, Silver and Miners. Will it be different this time?

To send a positive message to these assets that these assets are attempting to break a multi-year trend, one needs to see the ratio continue higher.

 

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