Gold Bears Mission Accomplished: Is the EUR next?

Gold Bears Mission Accomplished: Is the EUR next?

From oanda.com

Reports revealing that Chinas growth is losing momentum are a blow to risk asset prices this Monday morning. Weaker than expected Chinese Q1 GDP growth of +7.7%, y/y (+8.0% expected), combined with the tired US data on Friday (retail sales and consumer confidence headlines) has equities, FI and commodities under pressure – it seems that cash is trying to be “King” for a day at least. The softer Chinese data has triggered a mass liquidation of EUR/JPY longs, the chief driver pushing the 17-member single-currency lower. The rest of the market continues to focus on gold, the precious metal that has managed to fall ... (full story)

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Comment #1
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Apr 15, 2013 7:08am Apr 15, 2013 7:08am

javapips
| Joined Aug 2009 | Status: Save our Children's Save our Future | 41 Comments

i never give attantion on other trader analysis but i read your analysis two times before this and both are right, you really have good analyst on the company, thumb up!

I will be the number one Manager.

Comment #2
Quote
Apr 15, 2013 7:52am Apr 15, 2013 7:52am

prashant7
| Joined Aug 2010 | Status: A M S | 46 Comments

be carefull oanda may be the next ? - come on euro is largely protected and why would this funny statements create a sense - mario are u listening

finding A M S

Comment #3
Quote
Apr 15, 2013 8:17am Apr 15, 2013 8:17am

Guest
| IP XXX.XX.218.51

Quoting prashant7

Disliked

be carefull oanda may be the next ? - come on euro is largely protected and why would this funny statements create a sense - mario are u listening

Ignored

I would agree with the euro being protected, at least the e/u. How else could you explain the nearly 200pip drop on e/j, over 100 on a/u, and nearly 100 on g/u...but the e/u only drops 55pips at most today and is currently only 25pips away from the high of the day??? The euro bears are definetely not in control anymore.

Comment #4
Quote
Apr 15, 2013 8:21am Apr 15, 2013 8:21am

Guest
| IP XXX.XX.218.51

I stand corrected, e/u is not at the highs at of the day now! keep buying the dips because 1.3050 is a strong support level!

Comment #5
Quote
Apr 15, 2013 8:49am Apr 15, 2013 8:49am

javapips
| Joined Aug 2009 | Status: Save our Children's Save our Future | 41 Comments

looks like you will be right one more time, congrat..let's wait next two days..euro looks like waiting on1.323

I will be the number one Manager.

Comment #6
Quote
Apr 15, 2013 9:41am Apr 15, 2013 9:41am

Trader88q
| Joined May 2012 | Status: Member | 339 Comments

OMG ! Its fine that i never trade comodities at all.
Thats fore sure that those bulls now near suicide...

Story Stats

Posted: Apr 15, 2013 6:47am
Submitted by:
OANDA

Category: Fundamental Analysis

Comments: 6 / Views: 4,013