Just a final quick update before we all head off for the weekend.
The USD Index is moving higher today, and while it didn’t move back above its 61.8% Fibonacci retracement just yet, it’s definitely moving north, and such an invalidation could take place any hour now.
The move below the early-August lows was already invalidated, but a move back above the 61.8% retracement will be the thing that confirms that the bottom is most likely in.
Generally it takes three consecutive closes below a certain level to confirm a breakdown. So far we saw just one, and in today’s session the USDX moved higher. Invalidation later today or on Monday seems very much doable, and given how oversold the USD Index is, it’s likely to happen.
The situation in the EUR/USD also provides the context, and it makes the above-mentioned invalidation even more likely. But I already discussed that in today’s regular Alert, so I don’t want to repeat myself here.
Gold, silver, and miners are slightly lower at this moment, but not significantly so. Once the USDX invalidates its breakdown, it’s likely to soar and precious metals are likely to respond by declining significantly.
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In other news, I just received the following message and I’m really grateful for it:
“Thank you for the service and gold trading alerts. Please pass it along to Przemyslaw that his multi faceted technical analysis is exactly what I was looking for in a service along with the trade alerts.
We just experienced a corrective bounce (12/13 -12/14) and his intra day alerts emphasized everyone to keep cool heads. This is above and beyond any service!”
This week has been challenging due to the quick market changes and for the fact that I’m actually travelling right now. Quite many interesting things are going on around me right now, but I chose to focus on the market and on keeping you informed at all times (after all, while I can’t promise any performance of any market, I can promise to keep you updated and I’m serious about delivering on my promise), and I’m happy that it’s appreciated.
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As we’re on a streak of 11 profitable (closed, unleveraged) trades, and – just like I wrote today and in the previous days – it looks like we’re going to see much more of them in the near future, I want to provide you with even more great news!
We’re opening the possibility to extend your subscription for up to three years (at least by one year) with a 10% discount from the current prices.
Locking in those is a great idea not only because it’s perfect time to be ready for what’s next in the precious metals market, but also because the inflation might persist longer than expected and prices of everything (including our subscriptions) are going to go up in the future as well. Please reach out to our support – they will be happy to assist you and make sure that your subscription days are properly extended at those promotional terms. So, for how many years would you like to lock-in your subscription?
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On an administrative note, we’re updating our Terms of Use and Privacy Policy. To make a long story short, it doesn’t change the way you access the analysis, its scope or pricing, and if you wish to continue to use our services as you’ve done previously, no action is necessary on your part.
The changes shall become effective on Dec. 18, 2023, and if you disagree with the changes being made, please contact our support. If you agree to all changes, no action is needed - this will be understood as your acceptance of the changes. The key change in both agreements is that side of the agreement: sole prioprietorship: Sunshine Profits - Przemysław Radomski, will be substituted by Golden Meadow Sp. z o.o. The updated Terms of Use and Privacy Policy that are available by using the following links:
https://www.goldenmeadow.eu/c/resources/terms-of-use
https://www.goldenmeadow.eu/c/resources/privacy-policy
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As always, we’ll keep you - our subscribers - informed.
Thank you.
Sincerely,
Przemyslaw K. Radomski, CFA
Founder, Editor-in-chief
