Archive for June, 2013

GBPUSD Technicals

by Christopher Lemieuxon June 28, 2013 5:45 pm GMT
GBPUSD has been cast out of favor dropping nearly 600 pips in nine sessions, but it is currently just above daily support at 1.5185. The price action looks rather compressed horizontally, and the Pound still looks technically weak. The 20 EMA is starting to descend into the 50 EMA, which could provide further weakness. In […]

U.S. Consumer Sentiment Higher Than Forecasted

by Christopher Lemieuxon June 28, 2013 5:19 pm GMT
The Reuters/University of Michigan consumer sentiment gauge closed near the six month high set in May at 84.1 for June; 82.8 was previously forecasted. The survey’s director, Richard Curtin, said “”Consumers believe the (economic) recovery has achieved an upward momentum that will not be easily reversed.”  Curtin also concluded that even with the recent equity […]

Gold’s Glitter Is Lackluster

by Christopher Lemieuxon June 28, 2013 2:17 am GMT
Gold is on it’s worst year since 1981 as prices fell yet again to a new low since August 2010 1,196.98 a troy ounce. Traders are increasing growing weary on both sides. Gold’s major declines reckon there may be increase demand, but the overwhelmingly bearish sentiment may scare traders of farther loses. According to a […]

Gold Bugs Continue To Get Squashed

by Christopher Lemieuxon June 26, 2013 4:46 am GMT
Gold continues to fall late Tuesday evening after the U.S. data beats expectations and the reduction of Fed stimulus lowers any possible inflation. Since January, gold has jumped off a cliff and lost nearly $460 in value and currently is awaiting a bottom at 1,250.8 per troy ounce, down -24.3. Cash bullion prices dropped to […]