GOLD BATTERED, TOOK OUT $750; DOLLAR ONE YEAR HIGH VS. EURO
September 11th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Gold has also, just now (I’m watching this in real time) breached the multi year support that ran through $744.
Central bank intervention might have occurred when EUR/USD breached 1.3900. The resulting brief crank up has closed back down and EUR/USD shorts are facing a make or break situation just above 1.39 again. Let’s see if the wizard behind the curtain hits the juice at 1.39 this time. If They don’t, it’s another leg down for EUR/USD, gold and oil. [UPDATE] EUR/USD prints 1.38990… Wait for it. [UPDATE] WEEEEEEE!!!
Crude oil is barely hanging on to $100. It’s around $101-$102. They’d have to blow something up to hold $100 now.
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