Tuesday, 20 May 2014

Gold daily chart baby stepping lower along down trend line and 40 day moving average

First daily chart shows Gold for the year to date, along with the key trend lines and 40 day moving average. Baby stepping lower is how I would describe recent market behaviour.

Second chart shows Gold from late 2012 to mid-2013, sliding lower along the 40 day moving average. Will history repeat, with the current baby stepping lower along the 40 day MA leading to an accelerated and extended decline? Nobody knows. But trade with the trend...

AUD/USD daily chart turns lower from trend line resistance then plunges through trend line support