As I mentioned in the previous market summary post I think the money is starting to flow out for a few days from
the stocks and maybe from oil.
If investors are not buying stocks nor the dollar then money starts to flow into gold for 2-3 days. This is exactly what I'm waiting for.
Today the FED minutes might show that the FED is not so sure about any rate hike this year.
In this case we have a little pop in the stocks but by the end of the day investors will sell it off as they afraid of an overbought stock market and the weakness of the economy as the FED is not so sure regarding the rate hike.
That also not very good for the dollar. But this would push up gold to its cycle high by the end of this week.
Technically I can see a bull flag in the EurUsd and a bear flag in DXY which could break out today afternoon after the minutes.
These kind of EurUsd rallies are usually lasting for minimum 2 days. So I think it's not over yet . We have one more pop in the EurUsd and one more drop in the dollar.
the stocks and maybe from oil.
If investors are not buying stocks nor the dollar then money starts to flow into gold for 2-3 days. This is exactly what I'm waiting for.
Today the FED minutes might show that the FED is not so sure about any rate hike this year.
In this case we have a little pop in the stocks but by the end of the day investors will sell it off as they afraid of an overbought stock market and the weakness of the economy as the FED is not so sure regarding the rate hike.
That also not very good for the dollar. But this would push up gold to its cycle high by the end of this week.
Technically I can see a bull flag in the EurUsd and a bear flag in DXY which could break out today afternoon after the minutes.
These kind of EurUsd rallies are usually lasting for minimum 2 days. So I think it's not over yet . We have one more pop in the EurUsd and one more drop in the dollar.
Comment:
we are very close to the apex it can break anytime from now.
