Friday, December 11, 2009

Gold is sittign right on 34-day MA

I was interested to see Gold sitting right at its 34-Day MA (1120.06).

think its also on a previous Gap (1120) Support and it well worth for a spike to 1155 Gap resistance as marked on the chart.

We have contracting range days in EUR/USD -- it has 3 consecutive days with minor higher lows right at 89-day MA - - this distribution of stops on OANDA' site actually supports a possible run to 1.4850 (55-day MA).. seems like short term bottoming pattern and the tighter ranges will sure has a break since tomorrow is Friday..

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