Friday, July 16, 2010

Euro Rally Good for Gold


Forex Special


The euro rally versus the dollar has really started to gain steam, propelling the euro to retest a major resistance plateau (formerly support) at 1.2880, which if hurdled and sustained will argue for additional strength that next should confront the sharply declining 200 DMA, now at 1.3315.
Gold prices and the SPDR Gold Shares (NYSE: GLD) should react positively to upside continuation in EUR/USD.
Mid Day Minute

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