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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (8674)	8/13/2010 5:09:47 PM
From: Copeland	Read Replies (1) \| Respond to of 218833

More Eurozone problems. Spain and Ireland issues regarding lack of austerity compliance. Gold recently made a high in Euros on Thursday.

To: GROUND ZERO™ who wrote (8674)	8/13/2010 5:14:18 PM
From: Copeland	Read Replies (1) \| Respond to of 218833

From Ashraf Laidi (CMC Markets Chief Strategist). Take it for what it's worth... August 12, 2010 13:08 ET: GOLD RALLIES after EUR sell-off intensified in early European trade following concerns with Irish debt and talk that Spain would not may not implement full austerity package. Gold was muted at the early stages of yesterdays USD rally before gaining $15 ounces. Gold remains propped by any sign of recurring worries on Eurozone debt, therefore, any fresh selling wave in EUR will provide fresh momentum. The best scenario for gold would be market expectations of QE by BOTH the Fed and the ECB. We already know Fed will buy treasuries torpevent balance sheet from contracting. Any signs that ECB has returned to buying Ezone bonds, will be especially positive for Gold. XAUUSD looks to close above the 55-day MA for 1st time since July 2. Daily stochastics may seem a little overbought but the WEEKLY oscillators suggest fresh upside towards $1,2470. August 13, 2010 11:30 ET: EUR BROADENING LOSSES, with USD accumulating the bulk of FX gains as JPY takes a backseat. ALL LEVELS IN THESE FOUR CHARTS chart.ly n5k5k7 have been breached, with EURUSD vulnerable to a weekly close below 1.2770 (also 100-day MA) and GOLD vs. EUR further building on its WEEKLY GAPUP, which is a bullish sign for the metal across all other currencies. Equity markets may show modest moves in and out of positive territory but, but FX markets are strengthening the case against EUR. EURGBP FINALLY breaks 0.82, confirming my medium term target of 0.8120, with upside capped at 0.8260.