Beware: contrarian view below.
1.086 appears to be the support/resistance for March and it is bouncing right around that level now. Also, acknowledging the obvious trend lines drawn on the daily chart, this could well be a point of breakout, upwards (to what, I do not know, nor will I pretend to know).
Now, I currently do not have any conviction in terms of whether this is certainly going to move up or down from here, this is simply a technical observation, perhaps to those less long in the tooth in the forex market, to make you realise that the 'crowd' may not always be correct and that, whilst bearish/bullish views can have good arguments behind them; do your own research and make up your own mind.
In my view, based purely on technicals, this could bounce either way from this point. It would be nothing better than a guess, to go long or short at the time that I write this message.
My view on the broader market, based on fundamentals, is that gold (long) is a better bet for me right now and that, perhaps after the summer, we will see the bond market bubble burst a little, having a knock on effect to the equity markets, owing to the amount of borrowing that the companies keeping the indexes rising have (biotech, etc), leading to an increase in gold. The DXY is due a decent correction and, when it does, gold is usually the biggest benefactor of such an event.
Oh, and gold broke $1,200 USD today.
I'm not a huge advocate of investing in gold, but it's the right call for me, at this moment in time.
GL all.
1.086 appears to be the support/resistance for March and it is bouncing right around that level now. Also, acknowledging the obvious trend lines drawn on the daily chart, this could well be a point of breakout, upwards (to what, I do not know, nor will I pretend to know).
Now, I currently do not have any conviction in terms of whether this is certainly going to move up or down from here, this is simply a technical observation, perhaps to those less long in the tooth in the forex market, to make you realise that the 'crowd' may not always be correct and that, whilst bearish/bullish views can have good arguments behind them; do your own research and make up your own mind.
In my view, based purely on technicals, this could bounce either way from this point. It would be nothing better than a guess, to go long or short at the time that I write this message.
My view on the broader market, based on fundamentals, is that gold (long) is a better bet for me right now and that, perhaps after the summer, we will see the bond market bubble burst a little, having a knock on effect to the equity markets, owing to the amount of borrowing that the companies keeping the indexes rising have (biotech, etc), leading to an increase in gold. The DXY is due a decent correction and, when it does, gold is usually the biggest benefactor of such an event.
Oh, and gold broke $1,200 USD today.
I'm not a huge advocate of investing in gold, but it's the right call for me, at this moment in time.
GL all.
close the gap and USD JPY up and EUR USD DOWN
for the road lets see the close
