On November 17, the U.S. dollar index (DXY) corrected downward over the past two weeks, but strong support at the 99.00 level held firm. The previous framework remains valid, maintaining a medium-term bullish outlook targeting 101.70 and 102.40. This week, focus remains on the 99.00 support—holding above it favors upside potential. On the 4-hour chart, resistance at 99.70 is key. Failure to break above may lead to a retest of 99.00, while a sustained move above 99.70 reduces the likelihood of a double bottom and increases chances of a rally. Trading strategy: Buy near 99.00, stop loss at 98.55, targets 101, 101.70, and 102.40. Manage position size and adhere to strict risk controls.
The euro rebounded unexpectedly over the past two weeks, peaking at 1.1650. Despite exceeding the 1.1600 expectation, the broader downtrend framework remains intact. This week, watch resistance at 1.1670—below which the bearish outlook targets 1.1320 and 1.1080. Near-term support lies at 1.1560; holding above it raises odds of a retest of highs, while a breakdown diminishes this scenario. No specific trade recommendations today—focus on selling rallies (red line) with the blue line as an alternative.
Gold’s rebound aligned with expectations, reaching the 4217 target before pulling back. The metal now faces renewed downside pressure, likely entering a volatile downtrend. As noted on November 3, gold’s short-term top is confirmed, with only a 5% chance of surpassing the 4380 high before year-end. Over the next six weeks, trade gold as range-bound or bearishly biased. Key resistance is at 4275, with a breakdown targeting 3820. This week, monitor support at 4030—holding above may trigger another bounce toward 4160–4180 or 4220–4270 for potential shorts. The red/purple scenario is preferred; blue line remains secondary. No actionable strategy today—framework only.
Silver’s rally surpassed expectations, hitting 54.40 (prior high) after reaching the 51.20 target. With double-top resistance at 54.40, further highs before year-end are unlikely. Trade silver as range-bound between 49.40–54.40, favoring shorts within this band. A drop below 49.40 (blue scenario) would signal accelerated downside. Framework only—trade at your own risk.