USDollar Is Only Slightly Stronger than XAU/USD At The Moment

Russell Shor, CFTe, MFTA FXCM

The below is the weekly chart of the relative strength between the USDOLLAR and XAUUSD. Currently the green 5-week is above the orange 10-week EMA and the RSI is above 50 (red rectangles). However, the momentum is fairly flat at the moment. If the EMAs develop angle and separation and the RSI heads northwards of 50 it will be indicative of an increase in the underlying momentum and a likely outperformance of the USDOLLAR (similar to the blue areas). We continue to monitor.

Past performance is not an indicator of future results.
CHART SOURCE: WWW.TRADINGVIEW.COM

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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