Saturday, September 29, 2012

Focus on Gold and the Dollar


Next week, focus on Gold and the $USD Dollar
Chart above ; Gold daily
Pay attention to that "reversal level"
Key resistance is quite clear
Still very bullish on Gold, but we could face a "longer tight channel" before the next bullish break out.
Currencies ;
The $USD Dollar was oversold ... the Euro was overbought .... 

2 comments:

Anonymous said...

I thought Oil bottomed and USD topped recently and it's time to head for lower again. Because I am waiting for the time to buy Gold/Silver and if USD goes up, then Gold would go down. Do you think USD could over 80 this time?

yvan said...

Hi Anonymous, your chances of buying gold and silver at cheaper prices are close to zero. USD & Euro and other currencies are competing in the same race, gold and silver are the gauge.