Gold/Euro/Dollar
ECB rate reduction is euro bearish and dollar bullish. No two ways about that. Feds in the US will help maintain a stronger dollar with continued rate hikes, at least another 1/2 point, as it is clear they see strength in the US economy. All bearish for gold. The daily chart is ugly with a steady series of lower lows and lower highs . Due for an oversold bounce, but stays bearish below 438/440.. Yes, there is a nice looking candle from a bounce off lows on 5/24, but that pattern occurred twice this year, on 3/27 and 4/13, both sucker's rallies.
This entry was posted
on Friday, May 27, 2005 at 12:42 AM.
