This is called the tea cup and this pattern is happening on a few different pairs and I will be posting them. Let me know what you think.
If the price of DXY continues to go down we can see a further price push for gold. I hope we can see this move in the coming couple days or weeks.
My outlook for GU seeing what the new prime minister of UK will do and with the elections still underway I hope prices will continue upwards depending on the news and upcoming events.
The elections of the US Senate and House I hope to see the Dollar climb out of the hole slightly amid the elections are still underway. We must get inflation rates down. Once we get a lot of that down I hope to see the government start to focus more on its dollar issues. Thus pushing the dollar hopefully back up in a positive direction.
These are a few different scenarios I'm thinking UC will do for the next week! Let me know what you think thanks!