A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Happy Monday Everyone!
We have all emerged well from Christmas and Boxing Day around the world…hopefully in one piece!…so let’s have a look at a a particularly interesting move on Friday, as well as the Sydney Open a few hours ago…
First off, I would like to focus on a Unit that actually did move on Friday!
Remember my Post on why I still love Gold a month or so back?
Friday’s interesting move in Price action fits right in here…
The significant trending appreciation in Gold with the intraday breakout was a fine example of Price behavior taking advantage of a “thin” Market climate!
Let’s have a look…
(click once for captures)
Now…interestingly enough…especially in a “thin” environment…the Euro did not follow this correlation quite as heavily.
While still in an uptrend and appreciating…the Euro does not have what it’s “cousin”, Gold, has…
A “Safe Haven” history.
Of course…I am speaking of the proverbial “Apples and Oranges” here in the same sentence.
We certainly cannot make a “true straight correlation” with a Currency and a Metal…but we do know exactly how close they are due to the fact of how much the Euro is backed by Gold.
Here is Fiber on the same Hourly view…
Fiber may also pullback to the 38.2% Fib as we see in Gold as well…but we may see looking out a bit longer-term that these two “Cousins” will begin to “unwind” from each other.
“Why would this be, CVJ?…when again…the Euro Currency itself is so heavily backed by Gold?…
A fine question, my friends!…and one we will get to tomorrow!
