IIFT Daily Note with Peter Brown

Holding

Posted by:  |  Time: 7:11 am  |  Topic:
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We are at the bottom end of Euro range at 1.3290 and Gold at 1700. S&P is at the top end 1375.

This level has shown good resistance of late and it will take a big effort to break to the top side 1380.

Euro we expect to continue to weaken. Might see a short bounce towards the 1.3345 area but I feel it is a sell on rallies.

Gold is poised above 1700, which way it breaks is anyones guess. the move will be big. 1730 good area of resistance, above there it might recover all the way to 1780. I favour the downside.

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