China’s Yuan fell sharply against the Dollar on imposition of tariffs by the US. Expect a test of primary support.
The Dollar index strengthened. Follow-through above 98 would signal a fresh advance. The long-term target is 100.
10-Year Treasury yields are testing support at 2.40%. Breach would offer a target of 2.20%. Rate hikes are a distant memory.
Gold continues to test medium-term support at $1280/ounce. The tall shadow on this week’s candle warns of selling pressure; as does the Trend Index peak at zero. Breach of support would signal a test of primary support.
Silver continues to fall, heading for a test of primary support at $14. Declining Trend Index peaks indicate selling pressure.
Gold is likely to follow.