Forex Technical Update 9/27/2010 Fan Yang CMT www.fxtimes.com Today, the EUR/JPY and AUD/JPY continues higher towards important resistance areas. The EUR/USD is consolidating and there may be a correction decline. If there is, look for a positive reversal to develop, as the market is poised to test the 135.50 area, and possibly head towards 1.39. Looking at gold, we may have a bit of dollar strength coming up, which may delay the rally in EUR/USD. But if the consolidation in Gold is followed by continuing rally instead, the EUR/USD is also likely to continue. Let’s take a look at the charts.
Forex Technical Update 9/27/2010 – Consolidation in Gold May Lead to Some USD Strength
June 25, 2011