Gold has been relatively resilient to the dollar’s gains but this is likely being strongly aided by central banks becoming much more dovish, with the ECB last week admitting its exploring various options including more QE. This has previously been very beneficial for gold and could be particularly so in this period of negative interest rates. Key levels to the downside for gold are $1,400 and then $1,380.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment