fxtrader66

Gold Current Support andResistance

FX:XAUUSD   Gold / U.S. Dollar
362 13 1
Gold             is currently range bound. Levels to trade on a breakout of the range.

As I posted a few days back, I think gold             is in a wedge and could try to test the 1276/70 level for a long.

Also, as BM pointed out the other day this could be a H&S pattern, see link here to BM's chart
SHS on 60 min XAUUSD
Small H&S pattern. Chance for bears. Not confirmed yet
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alex.a Ryan Tyler
It is considered as a confirmed, the abnormal strength of USD. Really abnormality - Take a look at DXY.

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alex.a alex.a
ECB rate cuts!
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I have been expecting dollar strength for a while. The eurusd is in a cycle where imo cycle 9 is finishing and the euro could be heading towards parity with the usd in the next few yrs.
snapshot
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alex.a fxtrader66
at rate cut, Gold down due to DXY up and went up again due to EURO easy liquidity
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alex.a alex.a
Now, it is calming down... I should have known when I saw DXY up and what was going on Tokyo Market - They knew in advance -
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alex.a alex.a
I was asking around the abnormality of DXY without any reason. Aha - rate cut!
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alex.a alex.a
I mean without any answer - Aha ..
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alex.a alex.a
IT WAS THE RATE CUT ! !!! GAP UP WAS THE RATE CUT --- AHA - why I couldn't guess it - stupid -
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You do not know what the ecb is thinking, and its common for markets to give a fake out move. Now that you know the euro could be heading down look for an entry into the trend . this is what I would be looking at.
snapshot
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No trade zone for me, all this volatility is reactionary, look at gold how it spiked up and down, classic bot stop run. Draghi is speaking soon, then big US news, expect some big swings.
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alex.a fxtrader66
God GDP numbers, DECEMBER TAPERING can come ~ then LOWER GOLD
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Who knows? Bernanke could talk about it, but I do not think so, taper talk could kill an x-mass rally if there is one.
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