The Era of Fake Breaks
How many false signals and choppy indicators and confluence violated within last4 weeks. Time to set and watch. Anyway , Whatever Gold fake signal above 1446 or today flash up with ECB announcement and Euro collapse - indirectly strengthen - dollar and hence Gold weaken back , its all unknown scenario , last week the fall was between GBP then USD ended with Friday tragedy with Gold fake break. Turkish LIRA flash signals to close all positions and news traders plus options buyers. Gold due to collapse back to 1340 not because there is no crises or deal will be done , its because there are much more in the market to play with for one two month investment until crises crystallize.
No advise or theory rather than wait for 31 July for first reaction of FOMC meeting that will really shake the US economy -and world - for few months. Another shake will happen to collapse gold on 13-14 August after investment fund prepare for the real show.
In my opinion CPI has more impact on economy than Interest rate. 70% of economy are consumers.
regards
Ade;
No advise or theory rather than wait for 31 July for first reaction of FOMC meeting that will really shake the US economy -and world - for few months. Another shake will happen to collapse gold on 13-14 August after investment fund prepare for the real show.
In my opinion CPI has more impact on economy than Interest rate. 70% of economy are consumers.
regards
Ade;
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