For the last 6 weeks, the US dollar has seen some wild moves which also produces some spikes that don’t show up with a line type setting. The US Dollar couldn’t stand up any longer and looks like another correction is playing out.
Still, the US dollar is not going to dive into a bear market pushing the price of gold much higher, at least not yet!
The trade war has been going on for a long time already so the USD could have imploded many times already, but so far it has refused to do so, except for corrections.
I will remain bullish on the USD but the commercial hedgers may not see it that way in tonight’s COT reports.