JohnSwipe

JohnSwipe

The US dollar showed more weakness yesterday as it fell down towards our projected 1.27 Fibonacci extension (~112) from it's previous leg down (113.6 - 112.26) and managed to bounce back up from there towards the 0.38 Fibonacci retracement level, waiting for more downside as it couldn't break it.

JohnSwipe

Gold managed to break the 0.5 Fibonacci retracement (1205-1259) resistance and settles the day above it, but is due for a retracement. This market looks very strong and gold will find support not far below it's current price: at the 0.5 retracment (1225.5) and slightly below around the 1229 level. It's final support would be the 1225 level. I expect gold to...