Yes I agree there is certainly room below but that vaccum that was there before seems to be missing recently.
And yes I have actively trade AUD and CAD vs EUR and GBP over the past 2 months made some real good profits. I also advised some people here that it had some great swing potential, but I guess they pay more heed to your views. You probably missed that move while you were on your vacation in SA but man those were some great plays there. im still in few like EURCAD, EURAUD, GBPAUD, GBCPAUD, AUDCHF, and CADCHF NZDCHF
Crude oil remains in a very shallow uptrend, with prices attempting to climb toward the recent highs at $79.38. Beyond that is the channel top near $80.83. On the downside, $74.25 and $73.00, the channel bottom, provide support.
Gold fell $4.00 on Wednesday, as the metal again failed to break resistance near $1215. Volatility has been declining in gold, with no catalysts on the horizon to break the doldrums. The technical outlook is simple for gold: resistance at $1215, support at $1185. You guys can play the break of either level with tight stops.
Silver on the other hand decoupled from gold, rising 0.33% on Wednesday. The move is not an indication of things to come, in my view, but rather normal fluctuation of the gold/silver ratio between 60 and 70.
USDJPY just brokered below 88 level, which till earlier I was thinking could have been a nice triple bottom. Then this level if had held, the next topside target would have been the 38.2% fibonacci retracement line at 88.33 on the move from the low on July 7th to the high on the 12th; further is the 100 hour moving average coming in at 88.57. Below 86.90
Also remind youselves to look at the COT charts againhttp://finviz.com/futures_charts.ashx?t=6E it may be early signs of convergence. Ashraf please give us a review of the COT whats your thoughts will we see a convergence or just another failure from 128.
-When the Dow fell below the 200-day moving average; -After the Dow closed above the 50-day moving average -When the Dow hit a new low for the year. -The break below the June 8 low of 9757 (confirming a head-and-shoulders pattern)
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(9 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(9 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(9 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 (9 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (9 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (9 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(9 months ago)
Gold, Bitcoin, USD Combo
I mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
View Hot-Chart..
And yes I have actively trade AUD and CAD vs EUR and GBP over the past 2 months made some real good profits. I also advised some people here that it had some great swing potential, but I guess they pay more heed to your views. You probably missed that move while you were on your vacation in SA but man those were some great plays there. im still in few like EURCAD, EURAUD, GBPAUD, GBCPAUD, AUDCHF, and CADCHF NZDCHF
Gold fell $4.00 on Wednesday, as the metal again failed to break resistance near $1215. Volatility has been declining in gold, with no catalysts on the horizon to break the doldrums. The technical outlook is simple for gold: resistance at $1215, support at $1185. You guys can play the break of either level with tight stops.
Silver on the other hand decoupled from gold, rising 0.33% on Wednesday. The move is not an indication of things to come, in my view, but rather normal fluctuation of the gold/silver ratio between 60 and 70.
http://dianchu.blogspot.com/2010/07/illinois-higher-default-risk-than.html
But I was too tired to really tally it with my charts. I think I will post your concern and comment on his site.
Watch this chart!!!!!
Tell what will happen next?
-When the Dow fell below the 200-day moving average;
-After the Dow closed above the 50-day moving average
-When the Dow hit a new low for the year.
-The break below the June 8 low of 9757 (confirming a head-and-shoulders pattern)
read more
http://www.ritholtz.com/blog/2010/07/kilgore-beware-technical-trap-lower-lows/