OANDA:XAUUSD Gold remained stagnant throughout the week, closing within the same price range as last week due to a $2,048 resistance and $2,001 support. There are concerns about the US debt ceiling expiration as talks have been postponed to next week. Additionally, there are worries about an economic slowdown as bank deposits in the US decrease.
A sustained Buy...
Seeing as today is Canada day (sorry), and it's about to be a big fat 3 day holiday in the US my view is that everything US is going to rise today in value in preparation for the break.
In the case of the USDJPY I am currently now open with 100 points in fx spread LONG with the red horizontal ray at 102.3 dictating my stop.
Not really sure how far I want to let...
