Quote:
Originally posted by benkorea
NOT ANY!
Regarding the uptrend thread, Novice. I am not sure we will see that happen this week but next week with the US elections. If they turn out to be another mess, who knows what's gonna happen!!!
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When the Euro breaks above its triple top of 1.30 and gold breaks above its triple top of 430 all the fundamental problems with the USD will be rit large.
Now the Euro in absolute terms is pretty weak. But in relation to the USD it is much better. As I best heard it described, the Euro is the John Kerry of the currency world. John Kerry is desirable not because he is John Kerry but because he is not George Bush. The same for the Euro, it is desirable because it is not the US Dollar.
Gold is largely inert (pardon the pun for the chemistry minded). Thus the focus on the XAU/USD is almost solely on the US Dollar.