Monday, December 17, 2012

Foreign Exchange: EUR/USD Approaching Major Resistance

The thing that stands out is the lack of upward movement in gold despite the buck's weakness vs. the euro.
From Slope of Hope:
The EUR/USD forex pair is approaching a confluence of resistance at 1.3200-1.3250ish as it rallies towards the underside of a former "diamond" pattern/apex, as shown on the Weekly chart below. I'd expect to see a bull/bear tug-of-war around this level before it either continues upward, or reverses somewhat....MORE

EUR/USD 1.3165 +0.68% Gold 1696.90 +0.06%.