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  • #233,481
  • Apr 29, 2010 4:43am Apr 29, 2010 4:43am
Gold tends to go up when the USD dollar goes down. If the Dollar is going down, gold is going up, since this implies north travel on the S&P and more demand for gold. Market sells US dollars (and typically, buys Euros) when it is confident of a bull day for equities.

However, there are times when gold can rise along with the USD, especially if market is very nervous and looking for safe haven. There are times to trade gold and times to leave it alone. The spot gold symbol is XAU/USD, most brokers enable the trading of spot gold.

USD/CHF is the main risk appetite measure for the USD and 97% correlated to the EUR/USD chart, so watching USD/CHF is important, and it's also why USD/CHF is one of the two risk appetite default charts with any downloaded platform - USD/JPY is the other risk appetite chart, correlated with GBP/USD.

The Euro is the main competitor to the USD, hence it has a very key role in the currency market. Dollar strength is directly correlated with Euro weakness or vice versa.
  • #233,482
  • Apr 29, 2010 4:44am Apr 29, 2010 4:44am
Quoting ma_cowburn
Any one knows where i can find a USD INDEX chart as it is not on mt4
http://www.netdania.com/Products/liv...anceChart.aspx
  • #233,483
  • Apr 29, 2010 4:47am Apr 29, 2010 4:47am
Quoting Musashi
http://www.forexltd.co.uk/trade/contrspec/usdx/
USD_X and EUR_X is available using MT4
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  • #233,484
  • Apr 29, 2010 4:47am Apr 29, 2010 4:47am
Quoting Jade Gate
Gold tends to go up when the USD dollar goes down....
sort of what im trying to say... i doubt you call now a calm market between Euro and USD...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #233,485
  • Apr 29, 2010 4:52am Apr 29, 2010 4:52am
It is pretty uncommon to have a situation where "when X goes up, Y always goes down". It really does depends on the fundamental situation behind the moves. And these relationships can change over time (i.e. from "X goes up, Y goes dows" to "X goes up Y goes up too").
  • #233,486
  • Apr 29, 2010 4:55am Apr 29, 2010 4:55am
Good morning.
  • #233,487
  • Apr 29, 2010 4:57am Apr 29, 2010 4:57am
Quoting gatorinla
buy slip about 3103/3095 ish tp 3190/3215
sl 3085 ish be sl early
this on cliffs edge so be sure to hold sl
but may consider closing shorts here (slip) and renter after bounce if you dont want to counter trend
probably invalid now.. it would be lower. some where below 3069.. we also have a bull wedge that can put us in the 34xx area.. since we hit of this wedge bottom already we can go to 3352 and beyond. not expecting such a high bounce but its easily possible. check dailys for a clue. ill do some math. bbl
those who can, do. those who cant, talk about those who can
  • #233,488
  • Apr 29, 2010 4:58am Apr 29, 2010 4:58am
Quoting bguguen
sort of what im trying to say... i doubt you call now a calm market between Euro and USD...
Exactly. Gold is the safe haven of last resort. If equities look like they may crash in a major way, gold can rise instead of fall. If the Euro is looking unstable, the dollar can rise but so too can gold (whereas ordinarily if the dollar was rising, gold would be falling).

The gold daily chart is in a continuation pattern for north. Likely to put in a double top, then choke (or not, we'll see). Market usually sells off in the 2nd or 3rd week in May ahead of the US summer holidays, so this is something to watch. Also look for the S&P futures to begin testing hard around 1235-50. If market runs short, the Euro will be pounded while the USD does well.
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  • #233,489
  • Apr 29, 2010 5:02am Apr 29, 2010 5:02am
Quoting gatorinla
1 3132 + slip then bounce
2 3115
3 3069
4 3043
5 2967

fresh realestate... easier to do.. moves should get widder. these are huge..
still valid.. for now depends how high we go
those who can, do. those who cant, talk about those who can
  • #233,490
  • Apr 29, 2010 5:03am Apr 29, 2010 5:03am
if EU fails to break 1.3265, then i'll place a sell order....
  • #233,491
  • Apr 29, 2010 5:04am Apr 29, 2010 5:04am
Quoting Jonty
It is pretty uncommon to have a situation where "when X goes up, Y always goes down". It really does depends on the fundamental situation behind the moves. And these relationships can change over time (i.e. from "X goes up, Y goes dows" to "X goes up Y goes up too").
hey, great journal, just subs

keep it up

  • #233,492
  • Apr 29, 2010 5:08am Apr 29, 2010 5:08am
Positive comments from Moody's on Ireland and German opposition leader saying ready for decision before may 9th giving EUR/USD and Equities a lift here guys
  • #233,493
  • Apr 29, 2010 5:08am Apr 29, 2010 5:08am
Good morning all!! Wow!! This is a retrace!!!! I0ll get to my charts! Have a good day all!!!
  • #233,494
  • Apr 29, 2010 5:09am Apr 29, 2010 5:09am
are we going up now !!! the price did break yesterday high ! this mean up or we still down according to the shape of europe !
  • #233,495
  • Apr 29, 2010 5:10am Apr 29, 2010 5:10am
Tracks pointing upwards. It would be something to make it to R3 today. Still some resistance to get through and don't see any real buying pressure on the rise.
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  • #233,496
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
Quoting benssol
hey, great journal, just subs

keep it up

Thanks mate!!

Heres a chart of Gold (well, the front month future on COMEX), the 6E future on the CME, and bottom graph is Gold priced in Euro's.
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  • #233,497
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
the euro and the loonie and the crude made my day early

thank you guys

I'm in love


  • #233,498
  • Apr 29, 2010 5:21am Apr 29, 2010 5:21am
targets sos slip bounce crap

1 3211
2 3270
3 3321
4 3334
5 3440

invalid below 3114

sometimes we climb unexpectedly before major dives... & visa versa
those who can, do. those who cant, talk about those who can
  • #233,499
  • Apr 29, 2010 5:25am Apr 29, 2010 5:25am
Quoting gatorinla
targets sos slip bounce crap

1 3211
2 3270
3 3321
4 3334
5 3440

invalid below 3114

sometimes we climb unexpectedly before major dives... & visa versa
can you please explain this ? what is the targets for now ? buy or sell ?
  • #233,500
  • Apr 29, 2010 5:30am Apr 29, 2010 5:30am
I went long 13248 and took 1 off at 13270, sl = be, target2 13343, but if I see any consolidation I'm out and perhaps I will reverse my position
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