Ben’s failure to actively endorse QE has put a knife in the heart of the discerned uptrend read in GOLD from 2 days ago. As noted then, interestingly, the “BOARD” consistently came up with a “COUNTERTREND” read instead of being in full support of the uptrend read, and as was stated, that was disconcerting. One does not want a “COUNTERTREND” read on a new signal.
As far as the EURO, AUSSIE, and POUND, they are now all in “COUNTERTREND” status and the TRENDBODYCLOUD of the three, although still huge, is starting to be reduced in size. However, as to these turning into uptrend reads, it is doubtful at this point and a retest of the TREND LOW in the future is possible until the TRENDBODYCLOUD is taken out.
