Wild Card Gold 14 Sep 2009
Monday, 14 Sep 2009
Obama Speech to Impact Dollar
The Dollar is likely to go volatile during and following the speech by President Obama today at 16:00 GMT. Meanwhile, forex traders are advised to take positions on trades, as a few of data releases coming out of Euro-Zone and Britain are likely to affect the greenback's main currency crosses.
The Wild Card
Gold
Gold prices rose significantly in the last week and peaked at $1003.45 for an ounce. However, the daily chart's RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.
