Is it a new wave for Gold?


The pair was fluctuating yesterday in the tight range of 40 points, but managed to come back to the starting levels by the end of the day. However, this can be considered as a small sign for changing of market sentiments since we have monitored the stable pair decline from the beginning of the week. As a whole we can admit that the pair has stabilized with the resistance level 1.1150 and has gained almost 70% after FOMC comments last week and 38.2% from the total pair rally that happened during ECB and FRS decisions. Unemployment Claims from yesterday’s release were one of the best among other indicators. Continue reading