{"id":5207,"date":"2009-12-10T09:47:04","date_gmt":"2009-12-10T14:47:04","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5207"},"modified":"2009-12-10T09:47:04","modified_gmt":"2009-12-10T14:47:04","slug":"is-gold-entering-a-trend-reversal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/10\/is-gold-entering-a-trend-reversal\/","title":{"rendered":"Is Gold Entering a Trend Reversal?"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; Gold slid to as low as $1121.30 an ounce early today, which is largely owed to the USD\u2019s gains vs. the EUR in early trading. In the past week, Gold has made a significant downward correction, which can be directly correlated with the bearish trend of the EUR\/USD cross. 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>Pivot: 1115.00<br \/>\nOur Preference: LONG positions @ 1120 with targets @ 1155 &amp; 1165.<br \/>\nAlternative scenario: The downside penetration of 1115 will call for 1100 &amp; 1070.<br \/>\nComment: Price is shaping a falling wedge pattern, calling for a rebound.<br \/>\nTrend: ST Bullish; MT Bullish<br \/>\nKey levels Comment<br \/>\n1200** Horizontal resistance<br \/>\n1165** Horizontal resistance<br \/>\n1155** Intraday pivot point<br \/>\n1129 Last<br \/>\n1115** Horizontal support<br \/>\n1100** Horizontal support<br \/>\n1070** Horizontal support<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/gold-10-12.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/gold-10-12.JPG\" alt=\"\" width=\"590\" height=\"400\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex Yard.<\/strong><\/a><\/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 slid to as low as $1121.30 an ounce early today, which is largely owed to the USD\u2019s gains vs. the EUR in early trading. In the past week, Gold has made a significant downward correction, which can be directly correlated with the bearish trend of the EUR\/USD cross. This recent &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/12\/10\/is-gold-entering-a-trend-reversal\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Is Gold Entering a Trend Reversal?&#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-5207","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5207","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=5207"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}