There is something not right about the current market correlation, it is always a worry when the dollar and gold get priced higher at the same time. We have every indication that the dollar should be weakening and therefore we have seen a rise in the price of gold.
Yet the dollar has persisted this week, but we believe this could now be the end and we could see the dollar breakdown and promote our gold position as well as allow for foreign currencies to run higher.
Overall this week proved tough in the markets as we await a large move to occur in this case we are expecting the dollar to drop from 100.81 to 83.21 in very little time, this means we could start seeing previous years highs broken on foreign currencies like EURUSD and GBPUSD and Gold run to 2000+.
Our target is 1.0940
Our target is 1.2440
Our target is 1.3850
Our target is 1750.00