Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
Gold is showing the same fan pattern as appeared on the dollar-yen chart prior to the very powerful breakout in November 2012.
Will dollar strength continue? It's a question most effectively answered with chart analysis of the dollar Index.
The recent rally from near $1.05 remains part of the strong downtrend move towards the $1.00 support target.
The long, steady decline of the Australian dollar – and the Australian economy – continues.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.