After a long long
time, we will start to write new posts again. We have been out for a while because
of some problems with our fast internet connection. This is luckily solved
now.
So what will the
current market bring and tell us? Who knows.. Did we hit the bottom, or not?
There is no one who can tell you this exactly, but this is what is in our
minds.
The Eur/Usd is
currently in a trading range between 1.08 resistance and the 1.14 upper trend
line. After we passed the important level of 1.11 again this week. The most
likely scenario we will see is a retest of the 1.14 level again. What is also
our border.
If we will pass
this border, our targets can be reinstated because in that case we will see a
huge bullish scenario with possibilities of the 1.23 level, yes really!!
Than gold, last
weeks we went down hard. This all has to do with the uncertain markets at the
moment. You would say that investment companies would invest in gold now all
the indexes and commodities are going down, but in fact they stay out.
Why so? Because
the faith in gold has been lost. Even though China has recently bought over
100+ tons of gold in secret, the market is most likely to test lower levels
this and next week with targets around 1070/68. If this level would break we
could take gold even lower towards the 1050/46 level and eventually even
towards 840..
Let's trade the
market, and not our minds!
BusinezzTime
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