Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level. The catalyst for this modest recovery for gold was from the ECB, with suggestions that inflationary pressure was easing in the Eurozone, but hardly sufficient to spark a reversal in the longer term trend!
Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level
If you trade with Elliott wave analysis, your trading decisions
are all about the difference between where the market is vs.
where it will be. According to Jeffrey Kennedy, editor of
our Elliott Wave Junctures service, risk management
skills are vital to being a successful technical trader.
Are you looking for an easy way to improve your confidence as you analyze the charts you trade? Take a quick look at this chart (adapted from Jeffrey Kennedy’s December 26 Elliott Wave Junctures lesson) to see how divergence relationships help clarify your analysis.
The USD/CAD moved lower today on mixed Canadian economic data and imminent Spanish bailout sent traders fleeing the U.S. dollar into the Lonnie.
EUR/USD at Interim Resistance
You must be logged in to post a comment.