Monday, December 21, 2009

aud/usd & gold

little bit of a pop with resistance at .8850-.8863 (strong resistance zone) while gold is unable to break above 1116.78 and showing a lack of direction at this point and looking illiquid at this point. If aussie trades above .88.63 I expect gold to trade above 1116.78 but I'm not jumping at anything without some confirmations. note that gold is just above 1100.30. below 1110.30 and I have to think bearish but without liquidity these moves are just market chop.

From my news feeds listed to the right side of this page:

Good article on news:
Recession over by end of year, CBI says
Stating that recession could be over.

Another good article, this one on Seeking alpha:
Long USD Trends, Neutral on Momentum
article supports strong dollar weak equities.

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