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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 18, 2011

Gold Trend! 18-08-2011

Gold Trend! 18-08-2011
Technical:
Gold above $1781 will remain positive and can touch $1800 and $1817. If gold breaks $1781 then we may see it towards $1764 and then further $1730.
Fundamental:
Gold edged higher on Thursday on persistent worries about euro zone debt woes and slower global growth, challenging a rebound in the dollar. Gold is stabilizing in the near term, but low interest rates in the United States and the messy situation in Europe will push gold higher. Holdings in the SPDR Gold Trust, the world's largest gold ETF, rose by 0.72 percent on the day to 1,271.985 tonnes by Aug. 17.
By
M.Zohaib Gadit
Forex Trading Consultant, Shivani Financial
 

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