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July 19, 2019 | Gold and the Dollar: Correction Time?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

Double equality target in gold? Say what? Looking at these moves as a series of three-wave corrections higher, we see that larger Wave (A) = (C) and minor Wave [a] = [c]…hmmm….due for a rest? Could coincide with another short-term bottom in the US dollar….(second chart below)….

071919 gold daily.png

US Dollar Index: A push down toward are target…correction complete?
19 July 2019/11:46 a.m. ET

A few days ago we shared this view, targeting down toward 96.60 to complete minor Wave [ii] correction in three waves.  Well, we got to 96.67 for the low and have rallied since then.  Thus, this is part and parcel to our trades today.  Based on our intermediate-term view; and if this is a completed correction, the dollar is poised for a sharp rally.

071919 dollar index.png

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July 19th, 2019

Posted In: Black Swan Currency Currents

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