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Strategies & Market Trends : John Pitera's Market Laboratory
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To: robert b furman who wrote (18892)3/30/2017 5:50:50 PM
From: John Pitera2 Recommendations  Read Replies (3) of 33421
 
USD and GOLD update....... BOB Furman wins the prize this week for his correct call on the USD.

Kudos BOB!!!

Hi Bob, you were exactly correct about the USD being in the "C" wave of an A-B-C correction......

Hi John, Fairly clear ABC corrective wave in USD.

Note C wave must be a 5 waver.

Both Rsi and Full Stcochastic show we are near the end of a fifth wave. siliconinvestor.com


Message 31045360

The USD is a tricky little beast isn't it... the EUR and JPY really have been hit the past 2 days... it really is a big outside reversal week in the USD.... the commodity currencies such as the AUD, CAD and NZD have been weak as well.



that last little decline in the USD looks like it was the "C" wave..... did not make it down to the 200 dma.



The USD found support just with just 1 day below the 38.2% retracement it advance from 05/03/26 low @ 91.88 and it's 01/03/17 high @ 103.82

and the USD came within 12 basis points of it's 200 dma



and they are loving to sell GOLD at it's 200 DMA which is also the 50% retracement of the decline from it's July 6th 2016 high to it;s Dec 15th 2016 low



The April Gold futures also have the selling occurring just above the 50% retracement ..today's high it the 100% Fibonacci Price projection of the initial Fractal decline from the 7/6/16 high @ 1377.50 down to the 7/21/16 low at 1310.70.

You notice how close in price the .618 Fib price projection box is to the .618 retracement that is calculated from the 7/06/16 high down to the 12/15/16 low @ 1124.30 and that initial July Fractal turns out to be identical to the 76.4% retracement of the entire decline.

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