Forex Market News

Headlines

Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Thursday, August 11, 2011

Gold Outlook


Gold Trend! 11-08-2011
Technical:
Today we may see small profit taking in gold. Gold will remain positive as long as it trades above $1760. Down below $1760 could touch $1740, $1710 and $1677.

Fundamental:
Gold dropped below $1800 level after hitting a new record high of $1817.60 as CME margin hike. The CME Group raised margins for trading Comex 100 Gold Futures by 22.2% after economic worries in the U.S. and Europe sent investors rushing for refuge in bullion and pushed volatile prices to records. Historically when margins are raised significantly it tends to cause a bit of sell-of.




By
M.Zohaib Gadit
Forex Trading Consultant, Shivani Financial

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