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Link for this issue: http://tradingdiary.incrediblecharts.com/2014-08-27-gold-forex.php
 


Dollar surges, yields fall but gold hesitant

By Colin Twiggs
August 27th, 2014 3:00 a.m. EDT (5:00 p.m. AEST)

These extracts from my trading diary are for educational purposes. Any advice contained therein is provided for the general information of readers and does not have regard to any particular person's investment objectives, financial situation or needs and must not be construed as advice to buy, sell, hold or otherwise deal with any securities or other investments. Accordingly, no reader should act on the basis of any information contained therein without first having consulted a suitably qualified financial advisor. Full terms and conditions can be found at Terms of Use.


  • Dollar surge continues
  • Treasury yields weak retracement
  • Gold uncertainty continues

Interest Rates and the Dollar

The Dollar Index continues its impressive advance. Expect resistance at the 2013 highs at 84.50. Reversal below 81.50 is most unlikely.

Dollar Index

* Target calculation: 81.50 - ( 81.50 - 79.00 ) = 84.00

The yield on ten-year Treasury Notes is retracing to test its new resistance level at 2.40/2.50 percent. The primary trend is down, with 13-week Twiggs Momentum holding below zero. Respect of resistance is highly likely and would confirm a decline to 2.00 percent*.

10-Year Treasury Yields

* Target calculation: 2.50 - ( 3.00 - 2.50 ) = 2.00

Gold

Gold continues in a narrow range, between $1280 and $1320/ounce, in the apex of the triangle. Both this and oscillation of 13-week Twiggs Momentum close to zero signal uncertainty. Expect further consolidation between $1250 and $1350 in the medium-term. Breakout from that band is likely to indicate future direction. Falling crude prices and low inflation favor a down-trend.

Spot Gold

* Target calculation: 1200 - ( 1400 - 1200 ) = 1000


More....

Crude and bulk commodities fall but nickel, aluminum rally

The Unintended Consequences of Risk Avoidance | Pragmatic Capitalism

ASX finds support

Hang Seng leads Asian recovery

DAX surges

Dow signals fresh advance

Euro, Yen plunge against Dollar

Aloe Blacc: I Need A Dollar [video]


Study history, study history — in history lie all the secrets of state craft.

~ Winston Churchill



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