gold and Euro – Flight to safety when Crude tanker gets attacked?

Very interesting flight to safety? Or Not? As i mentioned in the last post that i shorted EURO at 1.1291 on technical chart pattern signal and it is in my directions around 185 dollars profit (100,000 EURO lot short on my fantastic mobile app of forex.com).

But i did expect Gold to fall. Why? EURO and Gold have direct relationship. That is, if EURO falls which means dollar rises which mean Gold falls. but EURO went down and Gold went up! Because GOLD is flight to safety commodity!

as the tanker attack in persian gulf took place, people went to GOLD for ‘safe investment’

lets see what happens on purely technical chart patterns – from 31st May through 12th June EURO went up from 1.1124 to 1.1344 vis a vis to GOLD what happened to GOLD prices? GOLD went up from 1282 to 1338.

NASDAQ NQM19 is still meeting resistance at 50 days SMA. I am waiting for break above 7575 before i get in. In relation to NASDAQ composite. Let’s see on the last day of trading today in the markets – NASDAQ composite should comfortably trade above 7860. It has been an outside day yesterday which i was not expecting and is quite bullish.

GOLD man – GOLD GCQ19 is hovering near 1350 dollars. what solid moves up. very bullish on GOLD.

happy travel trading !

 

 

nasdaq is losing steam

it has been a fantastic week with nasdaq. Good trade. Got in own 6/6 at around 7100 and got out on 6/11 for about 390 points profit in NQ

EUR usd is just transitioning down. Both GOLD futures (went up 30 dollars) and EUR USD went up. Gold and USD have inverse relationship. So if EUR is going up, GOLD also goes up

I missed out on Crude – just made about 160 ticks on it… Instead of around 1000 ticks. It is a big bummer since the chart indicated that it has broken support.

NIFTY 50 in India has been very volatile and erratic. Currently i am off and in the sidelines.

Just shorted EUR at 1.12910. the charts indicates a clear change in direction. GOLD is still little bit uncertain. Waiting for the patter to emerge.

EUR is interesting now – It has gone up about 200 pips in 8 days. a steep ascent. It has aggain broken an important support of 1.1300.

Happy traveling and trading