I'm trying to see what you long guys are thinking here. There's a possibility (although IMHO slim) it could hit 1.45, that's what ~150 pips from here. With all the resistance and R/R possibilities don't you think a 150 pip drop from here is more practical? There's nothing technical or fundamental (think reaction to NFP and positive news the last few days and lackluster up movement in other indicies) that should push us higher.
I just can't fathom anyone going long from the top of the range (a yearly high ) with a TP of +150pips when every other correlation is strung out and we're going into the worst months of the year that are widely known for $ strength! Talk about gambling....
Gold didn't follow the EURUSD on this humongous up move, it didn't break new highs, it was relatively late in the day, we closed below the descending trendline, weekly divergence etc. etc. When has news taken +1.5hrs to finally make a move (and +150pips no less). Don't get sucked in.
I just can't fathom anyone going long from the top of the range (a yearly high ) with a TP of +150pips when every other correlation is strung out and we're going into the worst months of the year that are widely known for $ strength! Talk about gambling....
Gold didn't follow the EURUSD on this humongous up move, it didn't break new highs, it was relatively late in the day, we closed below the descending trendline, weekly divergence etc. etc. When has news taken +1.5hrs to finally make a move (and +150pips no less). Don't get sucked in.
