Technical Commentary A risk aversion induced rally in the USD has put significant downward pressure on gold. The metal dropped rapidly through several layers Gold has started the month off on a firmer footing at current 1648. September was a rough month for the metal falling from 1920 to 1538 before staging the current bounce. The 38.2% of the drop is 1684 so we expect selling at this level. The key pivot remains 1704, while below this level there is a risk of a drop down to Double Top target of 1488.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(10 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(10 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(10 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (10 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (10 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (10 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(10 months ago)
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
Technical Commentary
A risk aversion induced rally in the USD has put significant downward
pressure on gold. The metal dropped rapidly through several layers
Gold has started the month off on a firmer footing at current 1648.
September was a rough month for the metal falling from 1920 to 1538
before staging the current bounce. The 38.2% of the drop is 1684 so we
expect selling at this level. The key pivot remains 1704, while below this
level there is a risk of a drop down to Double Top target of 1488.
i said this many times on this forum and my twitter in past 5 days
Ashraf hehehe nice joke :P