Silver and Gold trading

[maarnio]

Hi Rahman,

I think we are heading higher next week in Gold and Silver. Eur/Usd will probably trade in range of 1.42 - 1.47 next week.

Best with your trading!

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Hi maarnio,

With weak USD & EUR, Gold is expected to be at the 1551 level next week...and I see you still have a good opened position on it! : )

However, as suspected by most analyst, the Big Boys are in control of Silver and it's anybody's guess where it's heading next week or so.
My personal "suspicion" is that the Big Boys are racking in their profits and will go back in at the 34-35 level...i.e if they have not already done so...Then Silver (which is in short supply) might go past 50 heading ever closer to the prophetical 100 mark. As we have mentioned last month, Silver is expected for a reversal this month before heading North again.

You are probably correct in EUR/USD trading range for next week as a weak USD will do more harm to the already fragile world's economies. High USD pegged Oil is especially undesirable.

All the best!

 

[RahmanSL]

Hi maarnio,

I had expected to see you close one of your Gold position when price was briefly at 1551 area...but apparently you have other plans; right? : )

Yes, given the sorry state of most major currencies, there will continue to be a demand for Gold and the price will most definitely appreciate further. It might even hit the roof at the expiry of QE2 at end June 2011.

I suspect the BIG BOYS are STILL "playing" with Silver and attempting to drive price down further before going in to ride it past the usd50 level. Then the whole process is repeated raking them billions in the process.

As some analysts have commented, the EUR/USD don't make sense as obviously both currencies are in bad shape with the Euro in worst state....BUT yet, the EUR defy gravity and floated for the better part of last month and early this month. I don't think any analyst would dare predict the pair direction next week...I suppose the best way to trade it would be to scalp with market sentiment as I think the pair will go up and down somewhat waiting to see whether which boat would sink first.

However, I think two main factors will keep the USD afloat as oil price is pegged to it and the Chinese are holding far too much of it as their foreign reserves....plus, of course, the other countries whose local currencies are pegged to the USD.

All the best!

 

[maarnio]

Hi Rahman,

I am expecting $1650 Gold and $45 Silver around mid July. I still think that Eur/Usd will reach 1.60 before 2012. Next week Eur/Usd will probably trade in range of 1.42 - 1.47.

Best with your trading!

<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>

Hi maarnio,

I had expected to see you close one of your Gold position when price was briefly at 1551 area...but apparently you have other plans; right? : )

Yes, given the sorry state of most major currencies, there will continue to be a demand for Gold and the price will most definitely appreciate further. It might even hit the roof at the expiry of QE2 at end June 2011.

I suspect the BIG BOYS are STILL "playing" with Silver and attempting to drive price down further before going in to ride it past the usd50 level. Then the whole process is repeated raking them billions in the process.

As some analysts have commented, the EUR/USD don't make sense as obviously both currencies are in bad shape with the Euro in worst state....BUT yet, the EUR defy gravity and floated for the better part of last month and early this month. I don't think any analyst would dare predict the pair direction next week...I suppose the best way to trade it would be to scalp with market sentiment as I think the pair will go up and down somewhat waiting to see whether which boat would sink first.

However, I think two main factors will keep the USD afloat as oil price is pegged to it and the Chinese are holding far too much of it as their foreign reserves....plus, of course, the other countries whose local currencies are pegged to the USD.

All the best!

 

[maarnio]

I am predicting a range of 1.41-1.46 for Eur/Usd next week.

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[maarnio]

Next week same range for Eur/Usd 1.46-1.41.

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I am predicting a range of 1.41-1.46 for Eur/Usd next week.

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[maarnio]

Lets try the same range 3rd time for Eur/Usd 1.41 - 1.46.

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Next week same range for Eur/Usd 1.46-1.41.

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[maarnio]

Next weeks range for Eur/Usd 1.38-1.43

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[maarnio]

Next weeks range for Eur/Usd 1.44-1.39. If we make a new high in Gold on Monday I might sell some.

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[maarnio]

I am looking for some rally in USD next week. Next weeks range for Eur/Usd 1.44-1.39.

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[maarnio]

Next weeks range for Eur/Usd 1.44-1.39. Maybe we will get a top for the USD next week.

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