OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold has another downleg – MP Trader

FXStreet (Barcelona) - Mike Paulenoff of MP Trader sees Gold advancing to $1180--$1200 levels before continuing its downward trend.

Key Quotes

“Although I do think GOLD has another downleg ahead that will press it into the $1080/50 target zone, my work argues that the recovery rally from last Thursday’s low at $1131.85 to Friday’s high at $1179.17 is incomplete, and "needs" another bout of strength into the $1180-$1200 target zone prior to the resumption of dominant downtrend weakness.”

“Of course, if spot GOLD is unable to lift from the $1150 area, and instead plunges to new lows straight away, the action will speak for itself, and we should expect $1080/50 soon thereafter.”

“For now, however, I am looking for stability above $1145 to be followed by a run at Friday's high. MJP 11/10/14”

Bund – dip lower has been minor, looking for recovery – Commerzbank

Karen Jones, Head of Technical Analysis at Commerzbank sees the dip back from the 61.8% retracement of the last sell off at 151.57 to be minor as it continues to find support offered by Imoku 1 at 150.91.
Read more Previous

USD/JPY has reached 116.11 Fibonacci extension target – Commerzbank

Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY has reached the band of resistance at 116.07/11 which is the 1.272 Fibonacci extension taken from the August low to the September peak and projected up from the October low.
Read more Next
Start livechat