1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The Wild Card Gold 31 Aug 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Aug 31, 2009.

  1. forexqs.blogspot.com

    Aug 20, 2009
    Likes Received:
    The Wild Card Gold 31 Aug 2009

    Monday, 31 Aug 2009

    Forex Traders Anticipate Heavy News Week

    The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of U.S., Europe and Japan are likely to affect the greenback's main currency crosses.

    The Wild Card


    Gold prices rose significantly in the last week and peaked at $955.45 an ounce. However, the 4-hour chart's RSI is floating in the overbought territory suggesting that the recent upwards trend is losing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

Share This Page