Quote:
Originally Posted by peppertree2
Mr. FX,
I seem to have a problem with the date and time on the bottom of the charts. How can I adjust these? Thanks for all your help.
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Hey Good Morning.
The time and date are Russian time I believe. There is no way of adjusting it.
Try ODL or Metaquotes instead.
Gold & Oil are not so much as leading indicators, but all tend to work in unison.
Gold will sometimes have a little bit of freedom until told otherwise by Crude.
The same applies to Cable. Without Gold moving much GBPUSD can have a little bit of a wander as I think we saw yesterday at this time.
It was falling with Gold having found some support.
It wasn't until crude starting taking off that Gold really got going and thus thus halting GBPUSD at 1.99.
I hope a few of you readers managed to take the long postion after the 1-2-3 later on for a possible 60 pips.
OK, onto this morning.
I have a mixed bag on the Commodities which for me personally means 'do nothing'
Gold is back in the open, having broken all shackles.
Crude on the other hand still had a lot of upside traffic, namely the 4hr & daily 20&50 m.a's.
Interestingly my 60m 20 has crossed the 60m 50, which is a good sign, so we could well see a run from the current $130.50 level to the $132.50 level, which is Resistance 1 on the pivot and my 4hr 20ema.
With any kind of upside momentum on our black beauty we could see Gold back up at $976, some 8 Dollars away !
So another weaker Dollar morning session MAYBE, unless Crude breaks all my m.a's.
So over on the currencies that leaves us with a potentially short USDJPY and/or USDCHF, with potential to the upside for EURUSD and/or GBPUSD.
We've Mr King from the BOE speaking later at 9:45 so he should rustle up the Pound.
Moving onto the 5m chart for a closer look we can actually see a different story.
These 5m charts are incicating the opposite is happening and that Dollar is getting a little bit of strength back as we speak.
Crude appears to be having a spot of bother at the pivot point so won't be getting carried away until it breaks up.
There really are no gaps to the upside for Swissie for me to exploit. The same is true for the downside of Euro & Pound. It's m.a city with nowhere really to go.
USDJPY looks good to the upside IF Crude and Gold do fall but I will remain patient and pray that Crude breaks up and takes Gold for the ride.
Then we're looking for 5m 1-2-3's in the appropriate direction on the other 3 Majors.
Any question?
Linear Mode
