{"id":8702,"date":"2010-04-20T12:59:01","date_gmt":"2010-04-20T16:59:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8702"},"modified":"2010-04-20T12:59:01","modified_gmt":"2010-04-20T16:59:01","slug":"gold-bounces-with-risk-trade","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/20\/gold-bounces-with-risk-trade\/","title":{"rendered":"Gold Bounces with Risk Trade"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has posted a solid rally from yesterday\u2019s lows as the Dollar rallies across the board, yet has missed a retest of its highly psychological $1150\/oz level thus far.\u00a0 Investors dipped back into the risk pool today after news spread that the SEC only votes 3-2 to press charges against Goldman, signaling this may not be the start of a witch hunt.\u00a0 Additionally, the RBA meeting minutes showed that the central bank is still positive on Australia\u2019s economic performance and may not be done with raising rates just yet.\u00a0 This yielded a v-shaped rally in the Aussie, a positive for gold due to its negative correlation with the greenback.\u00a0 Meanwhile, the USD\/JPY is bouncing, another positive development for the risk-trade.\u00a0 However, negative momentum is still in play and risk will need a more sizable topside burst to break free.\u00a0 Such an event may not happen tomorrow with the data wire relatively quiet.\u00a0 Although, many psychological forces are floating around and it\u2019s difficult to know where and when they will resurface.\u00a0 Meanwhile, investors should also keep an eye on the news wire for U.S. earnings results.<\/p>\n

Technically speaking, gold has multiple uptrend lines serving as technical cushions along with intraday and 4\/19 lows.\u00a0 Additionally, the psychological $1140\/oz and $1130\/oz level could serve as solid psychological supports over the near-term.\u00a0 Speaking of psychologicals, $1150\/oz is now serving as a barrier along with intraday highs.<\/p>\n

Present Price: $1141.20\/ oz
\nResistances: $1142.05\/oz, $1143.24\/oz, $1145.22\/oz, $1145.91\/oz, $1146.80\/oz, $1147.73\/oz
\nSupports: $1140.47\/oz, $1139.78\/oz, $1138.20\/oz, $1137.31\/oz, $1136.22\/oz, $1135.53\/oz
\nPsychological: $1150\/oz, $1140\/oz, $1130\/oz, April 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 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 has posted a solid rally from yesterday\u2019s lows as the Dollar rallies across the board, yet has missed a retest of its highly psychological $1150\/oz level thus far.\u00a0 Investors dipped back into the risk pool today after news spread that the SEC only votes 3-2 to press charges against Goldman, … <\/p>\n

Continue reading “Gold Bounces 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-8702","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8702","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=8702"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8702\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}