AC26XP
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Gold spiked out of the box this Sunday afternoon in lieu of the Lehmann shake-up.
I like gold's long outlook this week.
In addition to gold spot, I opened long positions late last week in EGO, GLD, and UDN.
US Dollar Index: Falls Sharply As Wall Street Wobbles
Sunday, September 14, 2008 11:51:00 PM, Sydney (Reuters): The US dollar index has fallen sharply in Asia today after events from Wall Street this weekend have been fluid and unnerving. Analysts feel that the US dollar is vulnerable due to rising expectations that the Fed will be forced to cut interest rates after there was no private solution to the Lehman crisis and fears of systemic risk have risen dramatically. The latest reports regarding AIG have also unnerved investors after it was revealed that the private equity firms negotiating to buy AIG assets have pulled out.
EUR/USD: Flies Higher As Stops Above 1.4425 Triggered
Sunday, September 14, 2008 11:27:00 PM Sydney, (Reuters): The EUR/USD has flown up to 1.4480 after stops above 1.4425 were triggered in reaction to the NY Times report on AIG. The break above last week"s 1.4425 high ends an 8-week sequence of lower weekly highs. The 20-day MA comes in around 1.4490 and a break above that level targets the 38.2 fibo of the 1.6038/1.3882 move at 1.4705. The EUR/USD trades 1.4465/20.
Good luck !
I like gold's long outlook this week.
In addition to gold spot, I opened long positions late last week in EGO, GLD, and UDN.
US Dollar Index: Falls Sharply As Wall Street Wobbles
Sunday, September 14, 2008 11:51:00 PM, Sydney (Reuters): The US dollar index has fallen sharply in Asia today after events from Wall Street this weekend have been fluid and unnerving. Analysts feel that the US dollar is vulnerable due to rising expectations that the Fed will be forced to cut interest rates after there was no private solution to the Lehman crisis and fears of systemic risk have risen dramatically. The latest reports regarding AIG have also unnerved investors after it was revealed that the private equity firms negotiating to buy AIG assets have pulled out.
EUR/USD: Flies Higher As Stops Above 1.4425 Triggered
Sunday, September 14, 2008 11:27:00 PM Sydney, (Reuters): The EUR/USD has flown up to 1.4480 after stops above 1.4425 were triggered in reaction to the NY Times report on AIG. The break above last week"s 1.4425 high ends an 8-week sequence of lower weekly highs. The 20-day MA comes in around 1.4490 and a break above that level targets the 38.2 fibo of the 1.6038/1.3882 move at 1.4705. The EUR/USD trades 1.4465/20.
Good luck !
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