Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point. Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;) Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big...
Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point. Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;) Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big...
Depending on the outcome of tomorrow's FOMC we could get a solid correlation setup between GBPUSD and GBPCHF. Of course we would need to correct setup along with our algorithm to trigger a trade.
We will be watching to see if GBPUSD can regain its bearish momentum before the Fed announces interest rates on Wed. Although the street does not anticipate any move by the Fed, they may give a hawkish tone and if so that should add fuel to the short side. With that said we will be looking for a close below the short-term trendline on the hourly chart along with...
consolidation for the next leg up, break of $2.63 will test $3.
This is the trading range. Prior gap NOT filled.
once this bottoms it has long term potential.