Rising gold - 18 April 2011

Gold price did a big retracement last week before breaking higher. Gold price may seems exhausted but I am certain that the price will continue to escalate this week.

However, there maybe a pull back to 1470 before climbing higher.

Therefore, good to hunt for long entry if gold price fall to 1470 and I still hold on to the view that market will still go for 1500.

Reversing Euro? - 18 April 2011

Eurusd formed a reversal candle formation in the week chart. Looking at the day chart, eurusd also formed a series of consolidations with strong resistance capped at 1.4520.

This is good for us to pick short this coming week.

On Monday, there is a high possibility of this market to climb back up to 1.4480. A very good level for us to pick short. Cut loss level can be place above 1.4520 with expectation of market reaching a low of 1.4250.