Going into the new year, GU is at a very interesting position.
Resting on a dense level of support, it is hard to say whether it will break through or continue to ascend and go on to be bullish.
Most of this comes down to the US economy and what is decided to do with their inflation/debt crisis building up. There is a lot of fear in the market concerning this, and I find when the US is bearish, most other majors (Euro, Pound, Yen) are bullish.
This is an interesting development that I will be watching into the new year to see what the institutions and banks decide to do.
Resting on a dense level of support, it is hard to say whether it will break through or continue to ascend and go on to be bullish.
Most of this comes down to the US economy and what is decided to do with their inflation/debt crisis building up. There is a lot of fear in the market concerning this, and I find when the US is bearish, most other majors (Euro, Pound, Yen) are bullish.
This is an interesting development that I will be watching into the new year to see what the institutions and banks decide to do.