{"id":3189,"date":"2009-08-03T12:41:07","date_gmt":"2009-08-03T17:41:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3189"},"modified":"2009-08-03T12:41:07","modified_gmt":"2009-08-03T17:41:07","slug":"gold-leaves-950oz-behind-with-broad-depreciation-of-the-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/08\/03\/gold-leaves-950oz-behind-with-broad-depreciation-of-the-dollar\/","title":{"rendered":"Gold Leaves $950\/oz behind with Broad Depreciation of the Dollar"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has climbed above our 2nd tier downtrend line and previous July highs as the GBP\/USD and EUR\/USD burst higher.\u00a0 Both currency pairs are setting fresh 2009 highs, a bullish confirmation on their part.\u00a0 Gold is enjoying its positive correlation, heading towards our 3rd tier downtrend line in a hurry.\u00a0 However, June 10 highs and the 3rd tier downtrend line could prove to be worthy immediate-term obstacles with the S&P futures dangling just beneath their highly psychological 1000 level.\u00a0 Even though the EUR\/USD, GBP\/USD, and crude futures have done their parts, 1000 should be a challenge for the S&P if psychological precedence holds true.\u00a0 Therefore, even if the S&P futures should poke above 1000, we expect a retracement and ensuing near-term battle.\u00a0 As a result, gold could enter a similar conflict with its aforementioned barriers.\u00a0 On the other hand, most of the S&P\u2019s correlations are confirming the uptrend, meaning that a 1000+ S&P may be in the cards.\u00a0 Hence, the near-term future for gold is bright even if the immediate-term has its obstacles.<\/p>\n

Present Price: $961.65\/oz<\/p>\n

Resistances: $962.24\/oz, $963.81\/oz, $965.26\/oz, $966.91\/oz, $968.60\/oz<\/p>\n

Supports: $961.00\/oz, $959.34\/oz, $958.12\/oz, $956.32\/oz, $954.39\/oz<\/p>\n

Psychological: $950\/oz<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/a>.<\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – Gold has climbed above our 2nd tier downtrend line and previous July highs as the GBP\/USD and EUR\/USD burst higher.\u00a0 Both currency pairs are setting fresh 2009 highs, a bullish confirmation on their part.\u00a0 Gold is enjoying its positive correlation, heading towards our 3rd tier downtrend line in a hurry.\u00a0 However, … <\/p>\n

Continue reading “Gold Leaves $950\/oz behind with Broad Depreciation of the Dollar”<\/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-3189","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3189","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=3189"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3189\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}