{"id":13557,"date":"2010-10-01T08:46:39","date_gmt":"2010-10-01T12:46:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13557"},"modified":"2010-10-01T08:46:39","modified_gmt":"2010-10-01T12:46:39","slug":"gold-hits-record-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/01\/gold-hits-record-high\/","title":{"rendered":"Gold Hits Record High"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">Gold<\/a> hit a  record high of $1,315 an ounce this week, extending a two-week rally of  fresh records on concerns over an economic recovery. <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">Gold<\/a> has made a significant upward correction, which can be directly correlated with the bullish trend of the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/eur-usd\">EUR\/USD <\/a>cross.  As I will demonstrate below, the price of gold may very well be heading  for a reversal. This recent activity has raised the stakes for traders.  From here on, the forex and commodity markets will see very high  volatility indeed.<\/p>\n<p>\u2022\tThe technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic<\/a>, <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index <\/a>(RSI) and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1:  There is a \u201cdoji\u201d candlestick that has formed on the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 3: The RSI signals that the price of this pair currently  floats in the over-bought territory, indicating downward pressure.<\/p>\n<p>\u2022\tPoint 4: The Williams Percent Ranges is showing that this pair is  heavily over-sold and may be experiencing strong upward pressure.<\/p>\n<p>Gold Daily Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/gold-1-10-2010.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/gold-1-10-2010.JPG\" alt=\"\" width=\"482\" height=\"653\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                    may     not    be          suitable     for     all                   investors.            There       is   a                                  possibility              that                  you      could                   sustain a    loss          of   all      of          your                                investment  and                          therefore    you                    should      not             invest                money      that        you                   cannot             afford to                    lose.   You                 should        be            aware       of             all       the         risks                        associated         with             Foreign               Exchange                     trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; Gold hit a record high of $1,315 an ounce this week, extending a two-week rally of fresh records on concerns over an economic recovery. Gold has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR\/USD cross. As I will demonstrate below, the price &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/10\/01\/gold-hits-record-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Hits Record High&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13557","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13557"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13557\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}