Its a good opportunity to buy gold from this zone.
It is about time us Bears got together and smashed this cheeky bugger off the worlds top spot. As you can see here we have combined waves of tightening wedge formation on the chart. We also have some strong fundamental key events to help drive emotions and stretch budgets. The cloud of short interest is growing and if we slam hard come NFP we will be able to see...
Seeing as today is Canada day (sorry), and it's about to be a big fat 3 day holiday in the US my view is that everything US is going to rise today in value in preparation for the break. In the case of the USDJPY I am currently now open with 100 points in fx spread LONG with the red horizontal ray at 102.3 dictating my stop. Not really sure how far I want to let...