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.

Wednesday, August 24, 2011

Gold Outlook

Gold Trend! 24-08-2011
Technical:
Gold below $1850 can touch $1818 and $1785.Gold above $1850, up side target is $1865 and $1872.
Fundamental:
Gold rebounded more than 1% on Wednesday after posting its worst drop in 18 months, as risk appetite retreated after Moody's downgraded Japan's debt rating and strong buying interest in Asia's physical market lent support. Physical dealers were busy with a flood of orders from countries including China, Indonesia and Thailand. India has yet to buy in bulk. Its festival and wedding season starts in late September and peaks during the Deepavali festival in late October. 
By 
M.Zohaib GADIT 

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