If you just look at the price action of gold (xau/usd) in October, you would say that it is bullish, up 5.6% from 1183 to 1249.70. It has indeed been putting in higher highs and higher lows, and weak US data in inflation, retail sales, and manufacturing softened the USD across the board. Then good jobs data and decent production data failed to give the USD any spark. The dynamics between fundamental data and price action suggests the USD is indeed exhausted and is in a period of consolidation/correction. rom a technical standpoint, we are seeing the conditions in the 4H chart shift from bearish to bullish as price ... (full story)