Aug 13
Thursday
Analysis and forecasts
Intra-day update on EURUSD and Gold 08-13-09
by Liviu
closeAuthor: Liviu
Name: Liviu Flesar
Site: http://www.innerfx.com
About: I am an independant currency trader providing currency market analysis mainly for two reasons:
1. to improve my discipline, keeping a clear track record of my own thoughts, analyzing both my good and bad expectations on market moves;
2. sharing my thoughts with other traders, hoping they may benefit from my opinions and experience.
I don't call myself a veteran or trading guru of some sort as there's a lot more I have to learn, a lot more I have to see and my 8 years experience into currency trading is not enough proof that I will be successful during the next 8 years.
I dare to believe that my articles are useful to many traders from around the world and I strive to improve in my attempt to become a better and more accurate writer.
innerfx.com is my own project, a blog about currency trading where I share my commentaries and market thoughts. The site has been launched to address the needs of other currency traders and also to keep a track record of my articles. I am not fully dedicated to currency trading because I want to diversify my knowledge, therefore I am involved in different areas.See Authors Posts (1400) on August 13, 2009 – 4:43 pm GMT |
1 Comment |
The euro holds recent gains versus the greenback near the 1.4300 mark which couldn’t be fully breached yet, although the euro rallied to intra-day highs into the 1.4325 region, the rally being fueled by the positive signs of economic recovery coming from Germany and France. As pointed out on today’s morning report, the Euro has yet to overcome 1.4300 to confirm that the correction is over, then aim higher towards the recent top side @1.4445. Gold is facing the same scenario as the correlation is quite high nowadays: 960 providing resistance for now – and above 960 will also favor further gains on Euro/Dollar towards the 1.4350/1.4400 zone. A re-test of 1.4330/50 may occur within the next trading sessions if support formed by yesterday’s top into the 1.4240/50 region remains intact. Current rates are 1.4282 on EURUSD and 956.80 on Gold @16:40 GMT
EURUSD daily chart US session 8-13-2009 (click to enlarge)
gold daily chart 8-13-2009 (click to enlarge)
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