Update Week 23-27 July.
Gold and Oil should start a slight correction now, although last week XAU spot gold forecast didn't turn out to be a correct scenario, this week I favor shorts.
The zones are as follows:
XAU SPOT GOLD
| 643 |
| 653 |
| |
| 662 |
| 665 |
| |
| 689 |
| 691 |
| |
| 701 |
| 710 |
Not much to update on currencies, looks as if there is further upside on GBP USD (approx 600-800 pips) before it should start to retrace a little. EUR USD is eyeing 1.40 as probably most of you are aware of. Some technical traders over here are targeting 1.50 as the upside cap, although at 1.50 european company's will be under lots of pressure to do any importing business.