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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: Win-Lose-Draw who started this subject3/28/2003 2:27:32 PM
From: Softechie  Read Replies (1) of 11447
 
Dollar lower, Gold FLYING! off double-bottom
The Dollar continues to lose ground vs. the Euro as investors seem to remember how they didn't hedge any wildcards over last weekend and ended up getting burned (Dollar fell 1+% on Monday). Flows are moderate and the Euro is holding well above support at $1.0720. A weekly close above here will be bearish for the Dollar as it could trigger Euro short covering by spec players into the close/over the weekend... Gold finding a major bid right now with Gold/Silver Index showing a 5.4% gain on the day. Seeing aggressive technical buying, as well as short-covering here, off double-bottom formation established by the Index.
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