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by Ashraf Laidi
Posted: Nov 27, 2009 16:51
Comments: 404
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This thread was started in response to the Article:

Gold & Yen's Perfect Desert Storm

Yen strength still eclipsing USD rebounds during risk aversion. while gold's ascent is better gauged against currencies other than the US dollar.
 
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montmorency
Abingdon, UK
Posts: 610
15 years ago
Feb 4, 2010 11:11
And 1040 not 1140?
EvanRowe
Florida, United States
Posts: 25
15 years ago
Feb 4, 2010 8:03
Ash, you mean 1070 not 1170 right?
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Feb 4, 2010 1:18
karan, as long as we didnt break 1123 downside still here. many got excited on gold these last 2 days. i need to see 1125 then 1140. for now still looking for 1170 and 1140.

raj, probbly not. today's candle looks bearish.

Ashraf
14raj
Kolkata, India
Posts: 210
15 years ago
Feb 3, 2010 15:48
Asharf,
with little bit of aggression I bought one crude just near $76.90.Is it really fruitful at this time of Dollar surge?
Regards,
Rajib.
Karan
Singapore, Singapore
Posts: 83
15 years ago
Feb 3, 2010 15:44
by the way ashraf,

great call in usd/jpy...


thanks.
karan
Karan
Singapore, Singapore
Posts: 83
15 years ago
Feb 3, 2010 14:46
@ Ashraf.

hi ashraf,

This is what you wrote below in your IMT. Do you mean that it might still retreat below 1070?

Gold still fails to break above 1123-25 resistance, which will be needed to prevent retreat below 1070.

thanks,

karan
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Feb 3, 2010 14:27
USDNOK is up 340 pips sicne i warned on twitter After the Norges rate decision and BEFORE the ADP report. another reason why traders must follow me on twitter.com/alaidi

Ashraf
14raj
Kolkata, India
Posts: 210
15 years ago
Feb 2, 2010 22:37
Ashraf,
As i mentioned that i was holding crude at $73.60 level and today I booked that one at $77. Is it possible for crude to touch again above $83 in near term?Bacause todays closing is really encouraging stuff which is around $76.90 now.As far the chart is concern the closing is really a good one for the bullish side but i am bit afraid to establish some long again.Really appreciate your view.

Regards,
Rajib.
said
mulhouse, France
Posts: 2822
15 years ago
Feb 2, 2010 19:40
@mont
my dear just kiddin

as long as eurusd trend is in favor of euro expect a range trading for GLD capped at 1025-30
montmorency
Abingdon, UK
Posts: 610
15 years ago
Feb 2, 2010 18:00
Well, in IMT of Febuary 1, 2010 14:40 GMT, you said "Gold rebound to remain limited at last weeks successful resistance of 1115. Interim resistance stands at 1097".

In the video the same evening, I think you talked of commodities falling and also mentioned the 1115 resistance.

In IMT of Febuary 2, 2010 08:30 GMT, you mentioned: "Watch gold's resistance at 1123". That's a bit of a change in less than 24 hours.

I can see that oil and the stock market have rallied, but am unclear as to what is the actual driver here. (Oil seems particularly strong today).

Perhaps "surge" was an incorrect word here (for Gold), but certainly it has demonstrated renewed strength.



So would I be correct to say that Gold is still in the downtrend that started early January, and which is probably capped by the trend line at around 1123?. We have hit 1118 today, so is there now a good question as to whether that resistance will actually hold?
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