As long as U.S. interest rates will continue to rise there is no hope for gold. A TNOTE above 2.50%, however, might be a very interesting entering signal for gold (and bonds).
EurUsd at 1.3285 should have completed its correction. Wave C = wave A, while at 1.334 61.8% retracement of the downside. The attack to 1.28 should start from this point.
Bad data coming from the Japanese trade balance. At this point the market is clinging to the hope of an intervention from the BOJ tomorrow with new measures aimed to weaken JPY.
Another top for EurUsd at 1.31 (third day). The oscillators are approaching the overbought zone and the feeling is that tomorrow the fall will resumeâ¦
EurUsd continues to press on the resistance of 1,308, but the hourly and daily oscillators are coming close to the overbought. The ECB is preparing a European QE???