GOLD - Daily Chart vs Dollar Index

This chart revisits my idea from 2nd July where Gold is in a large triangle but this time overlayed with the dollar index. Note that the peaks and bottoms line up
well indicating that gold seems to have a close correlation with the dollar index. It looks like the dollar index has just reached the bottom of a 5 wave impulse down
and is starting a correction upwards. This idea has Gold declining to around 1263 fib 61.8% retrace of last impulse and and then correcting before falling to complete wave 3.
Good Luck

Kommentar:

GOLD is following this plan very closely and should reach the fib 61.8% point at 1263.2 before recovering in wave b.
Good Luck