{"id":5449,"date":"2009-12-22T06:54:07","date_gmt":"2009-12-22T11:54:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5449"},"modified":"2009-12-22T06:54:07","modified_gmt":"2009-12-22T11:54:07","slug":"gold-down-on-strengthening-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/22\/gold-down-on-strengthening-dollar\/","title":{"rendered":"Gold Down on Strengthening Dollar"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; Gold is now trading nearly 11% below record highs hit earlier in the month. Gold has made a significant downward correction, which can be directly correlated with the bearish trend of the EUR\/USD cross. Analysts said gold could test lows in the near term after breaking $1,100 as investors close positions before the end of the year, but their appetite to buy bullion on dips would support the market. From here on, the forex and commodity markets will see very high volatility indeed.<\/p>\n<p>Pivot: 1120.00<br \/>\nOur Preference: SHORT positions below 1120 with 1085 &amp; 1070 in sight.<br \/>\nAlternative scenario: The upside penetration of 1120 will call for 1130 &amp; 1142.<br \/>\nComment: the downside breakout of 1096 is a negative signal. Moreover, the 60 min RSI is capped by a declining trend line.<br \/>\nTrend: ST Bullish; MT Bullish<br \/>\nKey levels Comment<br \/>\n1142*** Horizontal resistance<br \/>\n1130** Horizontal resistance<br \/>\n1120** Intraday pivot point<br \/>\n1094 Last<br \/>\n1085** Horizontal support<br \/>\n1070** Horizontal support<br \/>\n1060*** Horizontal support<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/gold-22-12.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/gold-22-12.JPG\" alt=\"\" width=\"595\" 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 is now trading nearly 11% below record highs hit earlier in the month. Gold has made a significant downward correction, which can be directly correlated with the bearish trend of the EUR\/USD cross. Analysts said gold could test lows in the near term after breaking $1,100 as investors close positions &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/12\/22\/gold-down-on-strengthening-dollar\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Down on Strengthening Dollar&#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-5449","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5449","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=5449"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5449\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}