"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, October 27, 2010

Euro

Euro fixin' for a decline to test the neck line and some moving averages?  Or maybe the 'Golden Cross' (of the MA's) hype will hold sway.  I wouldn't hold my breath.  The Diamond consolidation is neutral, but indicative of a move coming... up or down.  MACD says down, then perhaps up later as the USD eventually seeks out its major downside target.  Edit (7:56)  Short euro as partial hedge toward precious metals long positions.