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Wild Card Gold 14 Sep 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Sep 14, 2009.

  1. forexqs.blogspot.com

    Aug 20, 2009
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    Monday, 14 Sep 2009
    Obama Speech to Impact Dollar

    The Dollar is likely to go volatile during and following the speech by President Obama today at 16:00 GMT. Meanwhile, forex traders are advised to take positions on trades, as a few of data releases coming out of Euro-Zone and Britain are likely to affect the greenback's main currency crosses.

    The Wild Card

    Gold prices rose significantly in the last week and peaked at $1003.45 for an ounce. However, the daily chart's RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing 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.

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