Well thanks to the FEDS we had that massive drop in GOLD/EUR etc last week. I’m seeing signs on both charts that this could be recovery day and we could get back on track with a bullish rally.
Positive EUR data already this morning and virtually NO USD data mean this is a good day for buying EUR/GBP/GOLD against USD. But will we be able to rally enough to recapture last weeks bearish move and to turn things again.
Time will tell, I still feel the FEDS have simply kicked the problems down the road a bit, until February next year when the whole uncertainty of the USD debt ceiling yet again kicks in.
Eventually, USD will not be worth the paper it’s printed on, simply because they are in so much debt.