First that I’ve noticed since Draghi’s action today regarding a target for the Euro$….where have we seen that number mentioned before, wink, wink
WOWza…they’ve lowered targets across all of 2015, based on ECB action and Fed action…so where is Gold Q4/2015 when the Euro$ is 1.20 and $Yen is 118
Plunger, although I’m not a PO chartist as I like to follow one trend in play at a time….HUI is where with those above currency levels?
Its not going there in a straight line folks so don’t bet the farm…but at least we see the direction the Windsock is blowing and we can protect our wealth
FGC, goldbuggers are going to hate this web-site
Remember Gold was trading off the US$ 2000 – 2008 since Nov 2012 its $Yen
Key levels coming into play……..
EURO$ chart….I don’t know of any FX trader in Europe that was pro the birth of the Euro$…political ego’s don’t allow asking the correct parties their view, history keeps repeating.
IF todays action by Draghi was seen as a positive move towards fighting off the deflationary effects across the ECU the Euro$ would have spiked lower and be reversing.
Todays action does absolutely NOTHING!!…except devalue the Euro$ which is an objective, so well done ………#$%@!!!
DAX and CAC40 along with FTSE100 all higher on a lower currency as they react to what the Nikkei has done while $YEN devalues….US Markets still gaining as Capital Flows into the US
The EURO$ chart….the red line that todays action crosses is not a trend line it was a direction highlight.
Don’t be shy we’ve ALL held them….lets have a L@@K to see where the position approach went wrong, no point is re-using an incorrect map.
Please no… I’m still long gold @ $1923…nobody can help you
105.44/94.84 and L@@King further out 110.66/90.36
How about a decent backtest off 94.84 to 96 giving gold a pop testing $1300 then a follow thru towards 90 $YEN into the fall….
Well we’ll never know if Armstrong’s rumour of the G7 is true that knowing full well the complete mess Europe is in a devalued Euro$ is in play.
Count Draghi surprize!
Basic FX you’ve got the US$ with wind at its back, War, QE ending, talks of rate hikes, spin of economic recovery ALL = Stronger currency
Euro$ and $Yen, more stimulus action, lower rates…well the list is very long ALL = weaker currency
Given the US$ Index is made up of 57% Euro 14% Yen that’s 71% heading lower as the Pound is only 12% which should be heading higher with the US$, its weaker with the Scottish vote in play recently
Weekly EURO$ chart….127 =/- is a hot zone…Marty’s Par call is in the back of my mind but that’s too far out, 1 indicator trend at a time is my focus
Marty’s Par target
127 level chart
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Get Ready For The Sep-Oct Trading Opportunity…Deut Bank
***If NFP is strong on Fri confirming no doubt of QE ending in Oct, the US$ reaction-higher will send $Yen lower and Gold as well, the goldbugger manipulators will scream! and we will understand fully whats really going on*** Matrix
Focus of the day:
“September is here. We are now approaching the biggest focal point for the year regarding how the USD/JPY uptrend will pick up pace. At present, US GDP growth for Jul-Sep appears to be over 3%. This week’s data releases include the August ISM Index, auto sales, and payrolls. Once the market is confident that growth above 3% will continue, we see that the USD/JPY will rise past 105 as the outlook strengthens for the Fed to move up rate hikes.
…We do not expect a policy change from the BoJ’s MPM on the 3-4th this week, but Governor Kuroda remains intent on maintaining the QQE. We see the market starting to shift away from dovish expectations for the FOMC from the next meeting at the earliest, or if not, the one after that.
If the US economic recovery is as solid as expected, this should continue to provide support for JPY bears over the medium term. We forecast the USD/JPY rising to 105-108 in Sep-Oct, and possibly surpassing 110 by the year end. We expect the US economic growth cycle to continue until 2015-16, and maintain our forecast that the USD/JPY could overshoot 120 in the end as Japan implements independent policies that also support the uptrend.”