{"id":8014,"date":"2010-03-26T11:43:57","date_gmt":"2010-03-26T15:43:57","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8014"},"modified":"2010-03-26T11:43:57","modified_gmt":"2010-03-26T15:43:57","slug":"gold-negated-by-1100oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/26\/gold-negated-by-1100oz\/","title":{"rendered":"Gold Negated by $1100\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold\u2019s intraday bounce has been negated by the psychological $1100\/oz area as risk aversion persists around the FX markets.\u00a0 The Dollar is currently appreciating across the board, most notably against the Yen and Aussie.\u00a0 A resolution in the EU regarding Greece hasn\u2019t managed to quell uncertainty thus far with a limited impact in the EUR\/USD.\u00a0 Hence, the Dollar continues to have upward momentum working in its favor, a negative for gold due to their usual negative correlation.\u00a0 Meanwhile, U.S. Final GDP came in 3 basis points below analyst expectations.\u00a0 This discouraging figure seems to be having a positive influence on the Greenback since it has become the preferred safe haven as of late.\u00a0 That being said, it appears the Dollar is in a win-win situation at the moment due to fiscal worries in the EU along with electoral uncertainty in the UK.\u00a0 Hence, gold seems to face an uphill battle for the time being.\u00a0 The data wire will be relatively quiet on Monday, meaning present momentums could persist into Tuesday barring a key psychological development.<\/p>\n

Technically speaking, despite gold\u2019s inability to break through $1100\/oz, the precious metal does have uptrend line serving as a technical cushion along with 3\/25 and 3\/24 lows.\u00a0 As for the topside, gold faces multiple downtrend lines due to the extent of its recent pullback.\u00a0 Gold must also overcome its highly psychological $1100\/oz area once again, no easy task.<\/p>\n

Present Price: $1095.65\/oz
\nResistances: $1095.72\/oz, $1097.26\/oz, $1099.73\/oz, $1101.23\/oz, $1102.64\/oz, $1104.34\/oz
\nSupports: $1094.92\/oz, $1093.37\/oz, $1092.23\/oz, $1091.40\/oz, $1089.78\/oz, $1088.72\/oz
\nPsychological: $1100\/oz, March 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 regarded neither 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\u2019s intraday bounce has been negated by the psychological $1100\/oz area as risk aversion persists around the FX markets.\u00a0 The Dollar is currently appreciating across the board, most notably against the Yen and Aussie.\u00a0 A resolution in the EU regarding Greece hasn\u2019t managed to quell uncertainty thus far with a limited … <\/p>\n

Continue reading “Gold Negated by $1100\/oz”<\/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-8014","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8014","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=8014"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}