Tag Archives: fxe

NFTRH; Key ETF Update

A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…

GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180.  Over sold, prone to bounce but technically bearish below 120 and 123.

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Gold-Euro Breaking Lower Trend Line

Well, Au-Euro is breaking down in that the GLD-FXE ratio is dropping through the lower Triangle line today and the supportive EMA 40.  Of more importance is the EMA 60, which needs to hold or else gold is breaking down for real in euros.  Hey, I just do the charts and interpret what they say.  [edit: Chart edited to show another triangle bottom w/ the black dotted line.  But again, the moving averages are more important and the weekly EMA 60 would have to be broken to reach the dotted line]