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

Gold Continues to Climb And The Wild Card EUR/GBP 23 Nov 2009
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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I was noticing that yesterday. Look at that trend on gold for the past year or so

Your assumption was right. Gold hit a record of over $1200/ounce after your analysis of bullish trend in November last week 2009 when Gold was trading at then all time high $1163/ounce. But presently it is in correction phase trading below $1100/ounce.

Wow, there are a lot of signals I am getting from this forum. I am actually looking around for trends and things that I should take note of. I am a risk taker but not entirely one. I am only willing to take risk after do a number of information digging. As a matter of fact, I have heard that the price per ounce for gold was soaring last year was due to recession. Every currency seem to be unstable and people moved back to it.