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Wild Card Gold 7 Sep 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Sep 7, 2009.

  1. forexqs.blogspot.com

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    Monday, 7 Sep 2009
    Dollar Expects Low Volatility Today

    Today is a quiet news day for the U.S. and Canada, as there are no economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations


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    The Wild Card GoldGold

    prices rose significantly in the last week and peaked at $992.65 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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