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Wednesday, August 09, 2006

Discussion of the Market.

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Gold had slight profit taking, coming down from 654 levels, back to 648.
Its maintaining a Good Momentum, And we hope the traders did enter when we mentioned earlier.
Traders view to profit take, As many Traders are Nervous, After the Big Slam happened Earlier when price was 730.
If we see, NY opening brings the price back up, and 1 hour back closing time, We see a slight pull back.
As some traders fear to hold positions for next day.

EUR/USD had the same situation, When on Tuesday there were Spikes all over the board, cutting out All the Orders, And which made many traders Frustrated, of what Actually is Happening.
We see 1.2850 level for a new Buying entry level.
However, talks remain, we have Trade Balance today at 12:30 GMT.. it shall be a nice moving Data.
And we shall see late today, And advice.

However, Market remains still at the opening of Asia Trade, After Yesterday Asia trading went Harsh bringing price 635 for Gold

We shall Advice further.

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