The US dollar index (DX.F) remains under pressure after Wednesday’s rebound failed to restore the 101.67–102.27 consolidation or reverse the broader technical damage. Thursday opened with a fresh bearish gap at 101.51–101.60, then the index slid back below the June and July reference highs to 101.27 before a modest rebound. It came within 0.01 of an anticipated support cluster without entering it. Focus now shifts to 101.11–101.26, which is formed by the September 30 and October 1 bullish gaps; just beneath, the 38.2% Fibonacci retracement sits around 101.10 and lines up with a measured projection near 101.07. The bearish gap remains open; while price stays below it, and below former highs plus 101.67, sellers retain the stronger technical case, with the daily close set to determine confirmation.
Gold (GC.F) has fallen despite the softer dollar, with sellers pushing prices close to the 4080 downside objective identified after the Oct. 14, 2026 break of the orange consolidation; Thursday’s low was 4082.35. The move ran through the full 4098–4135 weekly bullish gap intraday, with the chart snapshot at 4101.87, yet a weekly close below 4098 is required to confirm a gap closure. The 78.6% Fibonacci level at 4113.74 sits in the same zone, while Stochastic has issued a sell signal and CCI plus RSI remain weak. If the weekly gap fails into Friday, attention turns to 4036–4060, combining the July 30 bullish gap and a falling-wedge boundary near 4050; on any rebound, 4156 is first to reclaim, with 4233 and 4240–4250 as higher resistance. Other metals are also under selling pressure: silver is testing a key support mix, platinum’s four bullish opening gaps have been met by a bearish reversal, palladium has met two downside objectives, and copper has completed the minimum measured drop from its consolidation.
Gold And US Dollar Inverse Correlation
Breakdown Statistics
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