After rallying earlier this year, the U.S. Dollar Index has been swinging sideways in a very narrow range over the past 4 months.
Over the past 4 months, the USD Index’s high-low range has been less than 4.1 (i.e. a very narrow 4 month range).
Historically, this is a short term bearish sign for the U.S. Dollar Index (1-3 month forward returns).
This aligns with our short term bullish market study for gold & silver. If the USD makes a short term pullback, then gold and silver will make a short term bounce over the next 1-3 months.
Gold & silver have an inverse correlation with the USD right now.
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