2011 Trendline is still holding. Despite of recent dollar weakness, I dont think it will last long.
There maybe sideways movement on this pair for the next few weeks to months but I am looking to short anytime the pair hits near the 7600-7700 level. Although hitting 8000 is possible but there is some major resistance at 7700 so I wouldnt count on it
Ill stick to this game plan until the 2011 Trendline is broken.
Commodity prices maybe holding up but they cant hold down the USD for long.
No timeline on the 6300 target but within this year or the following. AU has gone near 6000 not off the cards for now, this year will shine light on the possibility.
There maybe sideways movement on this pair for the next few weeks to months but I am looking to short anytime the pair hits near the 7600-7700 level. Although hitting 8000 is possible but there is some major resistance at 7700 so I wouldnt count on it
Ill stick to this game plan until the 2011 Trendline is broken.
Commodity prices maybe holding up but they cant hold down the USD for long.
No timeline on the 6300 target but within this year or the following. AU has gone near 6000 not off the cards for now, this year will shine light on the possibility.