Trend Following:
As the USD continues to move higher after a couple of days closing below the 81.00 has gradually gained some mixed ground with the other currency pairs. Although, well expected the weekly lower opening for the USDx has given some corrective relief before the next full scale resumption of its rally. Much of the G8 meeting of addressing any financial crisis that may occur in the European continent shall be well supported by the member countries. As they say..its not a USD strength but a Euro weakness.
The immediate price reaction were a bit subdued due to the uncertainty as to how investors would take the current prices at its face value. The obvious came unanimously amongst the rest of the trading analyst that the Euro would continue its decline eventually. So much negative pessimism in the market place as money flows and shifts from Euro denominated currency back to the precious metals market. The sustaining decline for gold back below the 1530.00 /troy oz. have supported the relative up-swing for the US currency. Continuation on website http://www.megatrade101.com/
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