Lower commodity prices would definitely help, but unfortunately the one that matters the most for the U.S. economy – oil prices – are still high (WTI futures are at $113.56 per barrel, and Brent Cr…
Posted in Fundamental Updates Tagged BOE, ECB, EUR/USD, Expert Commentaries, FED, Gold, Macroeconomic Trends, USD/JPY
After dropping out of the trading channel on Monday, the EUR/USD found support in the 1.42 area and rose to a 15-month high today. A successful Spanish bond auction eased Spanish financing concerns. Spanish yields fell but Greek, Irish and Portuguese rates rose.
Posted in Technical Updates Tagged Commodity Analysis, Elliott Wave Analysis, Gold, Short-Term Forecast
Gold recovered quite nicely since the market found the support at 1380 region. You will notice that commodity made only a 3-wave retrace from the recent highs. We know that only corrections are structured by three waves and as such new highs should follow in sessions and days ahead, since corrections always appear against the larger trend….
Posted in Technical Updates Tagged Commodity Analysis, Gold, Medium-Term Forecast
The Gold testing support today (October 14, 2010 hight) and seems like to break below that level, last hight touching about 2X1 Gann’s price&time also should be weak in the bullish scenario…