{"id":6689,"date":"2010-02-09T12:51:33","date_gmt":"2010-02-09T17:51:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6689"},"modified":"2010-02-09T12:51:33","modified_gmt":"2010-02-09T17:51:33","slug":"gold-edges-higher-with-risk-trade","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/09\/gold-edges-higher-with-risk-trade\/","title":{"rendered":"Gold Edges Higher with Risk Trade"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold is moving higher today as the risk trade strengthens across the board.\u00a0 The EUR\/USD, GBP\/USD, and AUD\/USD have all logged solid gains thus far today as investors speculate that the EU will be proactive in dealing with Greece\u2019s fiscal situation.\u00a0 However, speculation is rampant in all directions, making today\u2019s pop in the risk trade a bit circumspect.\u00a0 While the data wire will remain relatively quiet today, news will begin to pick up during tomorrow\u2019s Asia trading session with the release of Australia\u2019s Home Sales data followed by New Loans and Trade Balance numbers from China.\u00a0 Additionally, the BoE will release its Inflation Report accompanied by a public address from Governor King, not to mention UK Manufacturing Production data.\u00a0 Hence, volatility could pick up again as tomorrow\u2019s trading session progresses.\u00a0 Investors should keep a sharp eye on the major Dollar pairs to gauge whether the risk trade is truly undergoing a recovery or whether we are merely witnessing a bounce in the road south.\u00a0 That being said, there\u2019s little reason to believe gold will deviate from its negative correlation with the Dollar.\u00a0 Therefore, all eyes will likely be on activity the Greenback.<\/p>\n

Technically speaking, we\u2019ve formed some new uptrend lines which run through levels set last week.\u00a0 Additionally, 2\/5 lows and the psychological $1050\/oz level could serve as technical cushions.\u00a0 As for the topside, gold faces multiple downtrend lines along with the psychological $1075\/oz and $1100\/oz levels.<\/p>\n

Present Price: $1071.75\/oz<\/p>\n

Resistances: $1073.95\/oz, $1076.61\/ oz, $1078.79\/oz, $1082.19\/oz, $1084.11\/oz, $1087.31\/oz<\/p>\n

Supports: $1070.77\/oz, $1067.61\/oz, $1065.90\/oz, $1062.26\/oz, $1058,74\/oz<\/p>\n

Psychological: $1050\/oz, $1075\/oz, $1100\/oz, February highs and lows<\/p>\n

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

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/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 is moving higher today as the risk trade strengthens across the board.\u00a0 The EUR\/USD, GBP\/USD, and AUD\/USD have all logged solid gains thus far today as investors speculate that the EU will be proactive in dealing with Greece\u2019s fiscal situation.\u00a0 However, speculation is rampant in all directions, making today\u2019s pop … <\/p>\n

Continue reading “Gold Edges Higher with Risk Trade”<\/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-6689","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6689","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=6689"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6689\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}