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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.
 
hmmalik
Posted Anonymously
13 years ago
Feb 22, 2010 11:36
Pipped off

i have sold cad/jpy @87.86
will it come around 86.50

hmmalik
PippedOff
Canada
Posted Anonymously
13 years ago
Feb 22, 2010 7:18
Just closed Gold short at 1122.8.

Best position is long strongest currency vs short weakest currency, therefore short euro, especially with the 200 pip consolidation in eur/gbp.
hmmalik
Posted Anonymously
13 years ago
Feb 22, 2010 6:43
pipped off
what is best trade for today?

i live in toronto.where you r in canada?

hmmalik
montmorency
Abingdon, UK
Posts: 610
13 years ago
Feb 22, 2010 6:37
@Emad: I'm holding fire on GBP/USD for now, but am already short EUR/USD (with generous stop in case of rally).

I see that Gold is still around 1125 at the moment, down from 1130.9.
klevera
seoul, Korea Sout
Posts: 51
13 years ago
Feb 22, 2010 5:07
this is interesting i went to sleep it broke 1130 level. Somebody called me so im just checking out the price action now it is traded at 1125. It's intriguing.
PippedOff
Canada
Posted Anonymously
13 years ago
Feb 22, 2010 4:50
I see significantly lower prices for Gold. SIGNIFICANTLY!!!

Your bullish talk will NOT shake me out.
ExpertShark
United States
Posts: 13
13 years ago
Feb 22, 2010 4:35
Hey Guys, I see one more push to get a new high above 1130...i believe 1140 should cap the upside. IF 1140 does not restrain the move up......we could go up to 1160's.
ray
New York, United States
Posted Anonymously
13 years ago
Feb 22, 2010 2:38
Hey Klevera,
I agree that we may retrace back to 1044, but looks like we will clean all the stops first at the 1140-1150, and once all these buy stops get filled out we will be able turn down again. The strong correlation between the strong dollar weak gold is weakening for now.
klevera
seoul, Korea Sout
Posts: 51
13 years ago
Feb 22, 2010 1:34
It looks like it will retrace 50% retracement level which is 1044. What do you guys think?
nzvik
Auckland, New Zealand
Posts: 225
13 years ago
Feb 22, 2010 0:56
Agre with you Ray. A shot towards 1150 is likely.