Euro Rally Good for Gold

The euro rally versus the dollar has really started to gain steam, propelling the euro to retest a major resistance plateau (formerly support) at 1.2880, which if hurdled and sustained will argue for additional strength that next should confront the sharply declining 200 DMA, now at 1.3315.

Gold prices and the SPDR Gold Shares (NYSE: GLD) should react positively to upside continuation in EUR/USD.


  Matched
x
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!