Checking the RSI index compare to past 6 months,expect the RSI will go over 66.
The spot gold price will test the recent low also double bottom support may be this week or next.
If gold price drop below the support will trigger Dollar to trade higher.
Medium term outlook Dollar will stay high because lots of funds are withdrawn from China in May and June.
Fed might cut rate ? Not a strong possibility.Might unexpectedly trigger stock panic sell,they don't want to do that.
The spot gold price will test the recent low also double bottom support may be this week or next.
If gold price drop below the support will trigger Dollar to trade higher.
Medium term outlook Dollar will stay high because lots of funds are withdrawn from China in May and June.
Fed might cut rate ? Not a strong possibility.Might unexpectedly trigger stock panic sell,they don't want to do that.