Here's What Gold And Silver Traders Want From The Greenback

Is King$ and the euro facing important breakout/breakdown tests at the same time? It looks like it in this chart.

The USD trend remains up, as it has created a series of higher lows since the start of 2018. The opposite can be said for the euro, which has created a series of lower highs since early 2018.

The greenback is currently testing the top of its 18-month rising channel, as the euro tests the bottom of its falling channel.

What the dollar and euro do at these channel tests should send an important message to the metals/commodities markets – at least in the short-term.

Gold, silver and the miners would receive a bullish message if these currencies happen to pull a reversal at these key levels.

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