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Gold Continues to Climb And The Wild Card EUR/GBP 23 Nov 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Nov 23, 2009.

  1. forexqs.blogspot.com

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    While all the major currencies continue to provide mix results, there is still one extremely strong in the market - the bullish Gold. During last night gold reached over$1,163 an ounce, making another all time high. However, a recovery of the Dollar, if indeed takes place, has the potential to put an end to Gold's uptrend.

    The Wild Card
    EUR/GBP

    There is a very accurate bullish channel forming on the 4 hour chart, as the pair has consecutively appreciated for the past 4 days. Currently, as the RSI on the daily chart is floating above the 50 line and the Slow Stochastic is pointing up, the pair might extend its bullish trend. This might be a great opportunity for forex traders to join a very popular trend.

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