GOLD and market Direction
Ok GOld made anincredibly powerful move up after failing to break the all important 1079 range and moved to the 1107 area. As you can see from the graph I look for gold to take out the trend line and tech stops grouped behind it which should carry it to 1139 area before reversing seeking sellers again. It willdrag a basket of currencies including the EUR/USD, GBP/USD, AUD/USD and other major currencies with it as it appreciates. Look to buy Gold/USD the AUD/USD and sell the USD/CAN. WHy? They are all commodity driven currencies.
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