Members login
Forex Video Technical Update - Greenback is Fighting Back as Gold’s Record Run Stalls
Written by article default Thursday, 30 September 2010 12:24
The correlation of general USD weakness is very strong with the rally in Gold. As gold shows topping action, the EUR/USD and AUD/USD appear to be topping as well, and the USD/YENappears to be bottoming. The GBP/USD reacted very strongly and is testing its channel support. Finally, we also see the Japanese yen firm up a bit, as the GBP/YEN continues to slide, and the EUR/YEN appears to be topping. Let’s look at the charts to assess the significance of today’s moves.