Gold is a commodity. Commodities, more than other asset classes, have false breakouts and breakdowns. They also tend to overshoot targets as I have mentioned many times.
Right now, gold and aussie benefitting from weakness in trash euro and gbp. All people know aAT THE MOMENT is to buy gold. We are getting very weak long in gold. They will get hammered on the reversal.
Ashraf will not say all bets are off on gold. He already mentioned 1133 as the line in the sand. It is up to you to make the call. There is still the 11 am and noon NYT fixes to contend with. We could see 1150. We could see 1115.
Gold is in the SHORT ZONE I talked about yesterday.
Also, last week I warned everyone the correlations we all have been trading around were starting to break down and change. Ashraf confirmned that not too long ago in a tweet.
Also, in recent experience, Ashraf has missed only one call, the GBPCAD call which chloe is stuck in. There also was an issue on a USDJPY call a few months back. If a call is wrong, he moves on to the next call. That is why you all MUST use stop orders!!! Ashraf cannot possibly know where each of us is positioned, nor is it his responsibility.
So be careful on the Gold and AUDNZD which Folks, there still remains the rest of the PIG nations to HAMMER the euro. If GOLDman screwed Greece with those swaps to make billions in commissions, you KNOW they did the same to Spain, Italy, Portugal, etc.
RBA now MUST hike to support the bloated, overvalued Aussie. They also must be very hawkisk in their statement, othwerwize THEY KNOW it is all over. That's why Paul Hogan has ben called. RBA says this is a job for Crocodile Dundy. He may be the only Aussie alive who can prop Aussie above 0.9000 from here.
Westpac clients will be drowning in their long aussie and kiwi.
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)
Right now, gold and aussie benefitting from weakness in trash euro and gbp. All people know aAT THE MOMENT is to buy gold. We are getting very weak long in gold. They will get hammered on the reversal.
Also, last week I warned everyone the correlations we all have been trading around were starting to break down and change. Ashraf confirmned that not too long ago in a tweet.
Also, in recent experience, Ashraf has missed only one call, the GBPCAD call which chloe is stuck in. There also was an issue on a USDJPY call a few months back. If a call is wrong, he moves on to the next call. That is why you all MUST use stop orders!!! Ashraf cannot possibly know where each of us is positioned, nor is it his responsibility.
So be careful on the Gold and AUDNZD which Folks, there still remains the rest of the PIG nations to HAMMER the euro. If GOLDman screwed Greece with those swaps to make billions in commissions, you KNOW they did the same to Spain, Italy, Portugal, etc.
it all comes down to BOC comments either hawkish or dovish later today.
RBA now MUST hike to support the bloated, overvalued Aussie. They also must be very hawkisk in their statement, othwerwize THEY KNOW it is all over. That's why Paul Hogan has ben called. RBA says this is a job for Crocodile Dundy. He may be the only Aussie alive who can prop Aussie above 0.9000 from here.
Westpac clients will be drowning in their long aussie and kiwi.