Shown yesterday was the trap of charts as EUR/USD Vs Gold. A trade existed but a minor trade with small profits by trading the crossovers. The EUR/USD side represented the same exact chart picture as all 28 of the G10 currencies. Which means don’t trade Gold with the G28 currencies.
The small detail was Gold yesterday and today were shown as Grams. The difference between Gold Grams and the actual traded Gold price shown today by the incompetent traders is the conversion 31.103.
Todays Gold Gram until 10:00 am EST at the Gold Fix is 0.016741. Which means 31.103 divide 0.016741 = 1857.89 Gold price.
The difference? Nothing. A minor meaningless number is the difference.
Best Gold Signal trade for crossovers is found in the EM currencies as USD/BRL, USD/PLN, USD/RON, USD/HUF. And the best is USD/BRL and USD/RON while USD/PLN and USD/HUF are weak and late to the game signals.
January 1 to 10
How about January 1 to 10 for EUR/BRL, EUR/RON, EUR/PLN and EUR/HUF. Pretty much same chart
Brian Twomey
