While the Dollar Index has climbed to over 80, the EURO is breaking down from the 1.49 price of November 18, 2009 price of 1.49, currently trading around 1.36.
In the last 60 days, you can see by the chart below gold has risen by 7.92% priced in EUROs. Not bad for a two month’s return… What Will Happen Next?
Read More023 days ago I wrote an article Trade Gold In EUROS Instead of Dollars? Switching May Make Sense Soon where I presented the case that the GDP of the Eurozone didn’t support the appreciation the EURO was receiving over the U.S. Dollar, which also was experiencing lousy GDP numbers. It was the fact that the EURO was approaching its all-time highs against the U.S. Dollar that made no sense.
Read More0But the Elliott Wave folks miss one thing when they do their prognosticating, and that is “the unexpected.” In a perfect world with no outside influence, the ABCD patterns of Elliott Wave Theory seem to fall in place naturally. But Elliott Wave Theory doesn’t take into account external influences that can affect these patterns like what occurred earlier this week.
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