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05-24-2007, 12:41 AM
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Trading Gold/USD
Hi All, this is my first post here. I have been member in other forums, and I would like to participate here with a thread about trading Gold/USD.
This is the GOLD/USD 1 hour chart. I still think it will go up due to the strong support formed as shown. Any comments or ideas will be appreciated.     
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05-24-2007, 12:45 AM
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4 Hour chart showing the same support line. Any idea?
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05-24-2007, 01:18 AM
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You have an up channel, but would be great if you post the monthly chart as well !!!
The Gold/US has inverse relationship, and looking at the forex charts I see the dollar is strengthen and gaining power, so although you have an up channel this might be a fib retracement on a monthly or weekly charts and the actual move might be down, I hate to build my trades bases on speculations but it’s looking good for the US this year. This is a personal opinion, and I might be wrong Some facts about the US dollar - Largest Economic power in the world - 40% of capital market assets from foreign investments - 90% of all currency transactions involve the US dollar - Gold and US dollar has inverse relationship - Highly influenced by US Stock and Bond Market ( when the Bond and stock market of a country starts to heat up , that means more money flowing into that country which means strength of the country currency) - Can be changed with the oil price ( inverse relationship)
__________________
“Risk comes from not knowing what you're doing” “Never argue with an idiot. They drag you down to their level then beat you with experience”
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06-03-2007, 07:17 AM
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TECHNICAL DATA ON COMMODITIES
Currency Key Commodities AUD Energy incl. Oil, Gold, Aluminium, Copper CAD Energy incl. Oil, Gold, Aluminium, Copper, Nickel NOK Energy incl. Oil, Aluminium, Nickel NZD Aluminium ZAR Gold, Energy incl Oil, Aluminium http://www.todayfx.com/commodities.html
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06-03-2007, 07:50 AM
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USA central bank gold reserve is constant:
http://www.forex-tsd.com/106283-post11.html Other country's central banks buy gold: http://www.forex-tsd.com/106265-post2.html http://www.forex-tsd.com/106268-post4.html http://www.forex-tsd.com/106269-post5.html
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