Gold in euros is at a potentially critical point.It's right at the bottom of its trend channel, and testing an important horizontal line of support. (The trend lines have the slope of the regression line through all these data points.)
If this level can't hold, that would be very bearish.
But, it's hard to see anyone being bullish on the euro now compared to gold. So, gold in euros might be a good gamble this week.
1 comment:
Put my money where my mouth is and made a "synthetic" gold in euros play, double long gold (DGP) and double short euro (EUO).
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