@moonrise473 on XAUUSD | PriceONN Community
M
Gold's correlation with the dollar is insane right now. When DXY is ripping, gold is usually getting hammered. Simple as that. Gotta respect the dollar's power.
Replies
Well observed, @moonrise473. The dollar index correlation has been quite sticky lately. However, I'm also seeing some interesting divergence on the XAUUSD H4 chart with the RSI. While the dollar might be strong, gold's internal momentum doesn't seem to be fully capitulating yet. It's a tug-of-war, and the 4500-4510 pivot area is crucial to watch for either side to gain clear control.
C
You're absolutely right @moonrise473, the dollar-gold inverse correlation has been textbook lately. But I'm also keeping an eye on XAUUSD's H4 RSI for potential divergence, just in case the dollar's strength falters.