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Hi Everyone!
Our Update gives us a 9-hour jump from our previous Post, so let’s check in on our “Correlation Theme” Ideas for Euro, Gold, and the Dollar.
EUR/USD does, indeed, keep up it’s bearish momentum and falls back into our larger Daily Channel”.
Here is the IntraDay Hourly View…
Give the Captures a Click as always… and Post-Time is 11:20 GMT.
Now… our Gold/Dollar Marriage appears “subdued”… as we have Dollar strength in the near-term… with Gold weakness in the near-term, as can be seen on the Gold Views below.
“Ideally”… Gold and the Euro should run with high correlation… and while we appear to be doing so these last few hours… we just may see Gold continue on as long as this whole Institutional situation with the Banks, Nationalization, etc. continues along.
Despite what we are seeing in the near-term of the last few days… Yen weakness… Gold rolling… Crude picking itself up off the floor a little bit….. Risk Aversion is still very much in the air with the “Sentiment” of Ineffectiveness of Global Policy.
Let’s check in after the NYSE Open…and see where Equities come into the picture and jockey our Friends around a bit…
