Gold, USD & Forex Update
Sunday,22July
Dear readers,The USD is looking oversold here and some bounce might be expected. If you add a channel the way I did, you can see that the USD index is at the bottom of the channel. In addition, the USD just tested the psychological important 80 level – this level was rarely violated, ever.USD Index Daily Chart (note the deep oversold condition of RSI 14)Try to avoid shorting the Yen as the crowed
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