Of Gold Extensions مقياس إمتدادات الذهب
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
By: Gordon_T_Long
http://www.marketoracle.co.uk/Article23555.html
http://news.smh.com.au/breaking-news-business/dollar-could-hit-us110-on-china-boom-20101017-16ot5.html
http://seekingalpha.com/article/228090-3-reasons-the-dollar-is-about-to-rally-a-contrarian-case-for-the-greenback
your call could be right for a perfect market, but not for a reality driven by short term gains.
I agree with you, as soon as the topic Eurozone emerges again, the direction goes north
But for the time now QE intervention threats from BOJ and fresh liquidity for risk appetite prevail
Negative Fundamentals concerning Eurozone are not important at the moment - obviously
http://www.ibtimes.com/articles/65672/20100926/euro-rises-but-for-the-wrong-reasons.htm
I remember your fully convinced and repeated call until June (article Eurozone Core, USD Index & Swiss Knife) for EurUSd 1,16; now three months later your target is 1,38 mainly on the edge of QE reasons
I wonder the reasons for it: changing fundamentals or merely the force of speculants against a single currency
Nobody really assumes fundamental conditions in and for Europe have improved within three months, in my mind only the focus has been altered, now speculating against USD is the focus, in the meantime obviously already undervalued
Shouldn't we be aware of a renewed sudden change of sentiment ? profittaking, rumours on purpose and so on
on March 27th i made this entry,
high RSI of nearly 70 on daily chart and the Bullish Percent Index (BPI) of over 90 % show similarity to the situation around january 14th (ca 86 %) ahead of the big sell off
a bullish sentiment has been purposely created by the institutionals to get the possibilty to get rid of their long positions
There were hints for this turmoil