Monday, February 20, 2012

Week 8 - Weekly outlook

First of all let's look at the AUDJPY which I past on last Tuesday. Well I can be short about it I should have taken it, it would even have reached my target profit on Wednesday.

Gold - bullish


It looks as if gold is resuming it's uptrend. The MACD crossed zero and the EMA is pointing up. You can however argue that the downwards channel is still intact. Also the very small candles during the last month do not express overwhelming strength.

I am bullish gold, but a sign of more strength is highly welcome

Gold - weekly


-- to be continued

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