Another pair i will be watching closely is the Aud/Usd. Big weekend bullish pin bar last week that came back to form an inverted inside bar on the weekly stopping on a big round number.The dollar may be recovering and may just send the pair lower once again.The other antipodean pair of the Dollar the NZD/USD may be headed lower with a bearish bar last week on the weekly and the daily.First stop may be the 8000 mark before we can continue either lower or bounce back for some correction.
Gold and Silver seemed to making higher highs with bad news coming from the Euro region as well as the US.Gold is now headed for 2000 mark while silver is making a comeback with a very bullish week last week which may indicate further strength this week.I stay bullish on both for the coming week.
The Euro seems to be beaten down in the early morning session especially after down beat comments from Euro zone officials and geopolitical tension from the region have led to an early morning sell off.The Euro/Gbp seems to be heading lower. Gold and silver seem to be bullish while the Yen is sending most of its counterparts lower as well.The intervention does not seem to be working.
ReplyDeleteThe pair is now trading higher at 8793 after pulling back to 8694 before beginning its bullish move.This would have been a great swing trade opportunity.
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