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$USD BUY SIGNAL


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#1 Rogerdodger

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Posted 03 March 2004 - 01:26 AM

The $ high was 89.06 today and good enough to give a buy signal on the PnF chart. It would seem that the intermediate trend is up for $ and down for gold (at least until 87.80 is broken to the downside.) P&F Traget is 98 for the $. That said, since Gold can be so volatile, a sharp selloff might be an excellent longer term buy. Hey George Soros, are you still short the $? :angry:

#2 TomD

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Posted 03 March 2004 - 01:51 AM

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The bullish cross-over on the weekly MACD is a key technical feature.

Of more interest is the potential impact on gold stocks. Many quality stocks are at critical junctures within consolidation patterns..if they break down the price action south could get hectic.

A good opportunity for those who are looking to reenter. My own thinking at this time if gold indexes will correct harder than usual. Bull markets like to buck riders off. Could it be that too many people are looking to reenter when and if indexes get to 200 dma"s?..and the market will go well under to scare people off?..

.It is just a consideration.

At one point I was really looking at speculative explorers...but now I am leaning more towards quality juniors...DSM, GBG for example. I think SUR has lots of specualtive potential as well.

Currency and gold markets have lots of big fingers being stuck into the pie...which makes them difficult to predict.
Health Canada has just released a study which shows that 100% of the population who have been exposed to whole milk products will die.

#3 SilentOne

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Posted 03 March 2004 - 06:43 AM

I wonder if a disconnect between the USD/Euro and gold is before us? I bought the HUI hard in July in the face of a rising USD. Check the chart and you will see. The reason I bought was a breakout the large ascending triangle that had formed on the HUI at the time. Right now everything is at trendline or citical junctures. HUI and XAU are uptrendlines that need to hold for bulls. The Euro and gold are also at important fibs and wave points. Today will be most interesting. cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#4 HOLYGRAIL

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Posted 03 March 2004 - 11:17 AM

If your interested in turning a buck in gold don't let this pullback shake you out gold hasn't peaked out yet. The road to the top is never in a straight line. For those of us that drive in the mountains we know this. Greenie gave his little speal on the interest rates to do exactly what it did, drive the dollar higher and this is accomplished by shaking out the shorts with a little lip service. Thereby accomplishing what he wanted in the near term, which passifies a few euro leaders and keeps everyone content. The central banks will negotiate another gold contract in the near future as this is to their benefit to limit sales, so thats a given. But the dollar is headed somewhat lower, as this is to the administrations benefit and will help the economic numbers prior to the election. Therefore the price of gold will rise during the second quarter to perhaps the $450--$455 level before a final pullback for the year. HOLYGRAIL :D