Gold & EUR/USD Approaching Bounce Target Zones

Both gold futures (/GC) and the EUR/USD are now approaching the bottom of my bounce target zones. At this time, I'm still looking for a reversal within the bounce target zone after this counter-trend rally which is likely to be followed by a move down to the final target zone before a resumption of the primary [...]

Gold & Euro Poised for a Counter-Trend Rally

After kissing my first target today following the recent breakdown on the daily time frame (first chart below) EUR/USD now looks poised for a relatively minor bounce on a break above the 1.177ish level before a resumption of the downtrend, as the 60-minute chart (2nd below) indicates. Not coincidentally, gold futures look poised for [...]

Sep 27, 2017 3:50pm|Categories: Gold & Commodities|Tags: , , , , , , , |2 Comments

Gold, GDX, US Dollar & Euro Analysis

Following Monday's breakdown below the uptrend line, the EUR/USD is approaching my first bounce target around 1.17 although I favor a continued move down to the 1.15 area before a resumption of the primary uptrend. Daily chart: EUR-USD daily Sept 27th The scenario below, a move down to the 23 area today, followed [...]