LET THE MARKET TELL WHO WE ARE

By looking at weekly simple bar chart it seems that USD INDEX is moving in a inverse head & shoulder formation and making a nice bar reversal on weekly chart. If this week dollar index manages to close above 76.60 marks then this week can be a nice reversal day and a rally till 85-87 zones would confirm.  As per dollar index weekly analysis we can expect that if price moves in our way then some weakness we will see in gold also and gold may decline till 1480-1250$. Before taking any trade don’t forget that we are analyzing weekly chart so this pattern may take 16-18 months to develop. 

USD index has broken important support on very short term time frame that is suggesting near term consolidation in coming days. 78 is looking good support and reversal point, a failure below 78.10 would signal a decline till its primary support of 77 major resistance seen at 82 zones a penetration above 82 zones would signal an advance till 88