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Gold Technical Analysis

The significance of the 21-DMA was confirmed Wednesday with gold bouncing sharply from

The pair opened at $0.8829 this morning after trading up to $0.8860 during the US hours last night.

X14 is edging closer to the 2012 low confirming bearish pressure.

The pair opened this morning’s session at $1.2838 after it traded a high of $1.2887 overnight in the US due to the sharp US dollar losses.

The pair closed in NY Wednesday at $1.6007 after rate had seen an aggressive spike rally to $1.6068,

The close above the 21-DMA is the first since mid-July and may prove to be a game changer.

The continuation lower to fresh 2014 and 13 month lows overnight sees the Stoxx50 close below

The pair opened at Y105.92 this morning as it recovered after a hefty overnight drop to a Y105.20 low.

Bizarrely, the NZD is the best performing major currencyovernight,

Despite the overlap within the latest rally from 1.0829, the breakout and sustained trend suggest an impulse higher.

The Euro trade from 1.2501 is honoring our call for a wave-4 correction.

Widespread fears of slowing grip the marketplace and that leaves the bias pointing downward in the Euro.