The US Dollar Index has made a bearish reversal from the 61.8% retracement as we expected. It has reached the recent low and support in the area of 94.80-94.60. A beak below this level will increase the chances of new intermediate lows bleow 93.10.
The US Dollar Index is below the Ichimoku cloud. Gold was rejected at both the upper cloud boundary and at the 61.8% retracement. Yesterday, we got a bearish signal that warned bulls about it. On the other hand, bears want to break below 94.60 in order to put the level of 93.10 to the test.
