Gold - BINGO !!!!!! AB=CD met . Think we see a little sideways action here with a move higher toward 1223 then 1239..
Gold remains in a well entrenched downtrend with the AB=CD target and the 61.8 // 161.8 Fib extension in the 1179//1182 area. Further out expect this decline to culminate at 1127 - the target from the triangle breakdown on the weekly chart.
Silver - The spike low to 18.49 looks to have completed the AB=CD. Still too early to call a bottom but would think dips will be bought looking for a retracement higher toward 20.50//20.80 zone.
Like Gold, Silver remains in a downtrend and looks to complete the AB=CD formation at 18.45 with Fib extension at 18.25.
Aussie -
What can I say... Smacked harder than a red headed stepchild... Aussie has lower to go to achieve the Symmetrical Triangle breakdown target at 0.8230. A possible extension down to 0.7930/0.8030 zone would also have us complete an AB=CD pattern before a decent retracement,
EurUsd -
EurUsd is bullish and is completing a 3 Drives pattern which will ideally target 1.3997.
Swissy -
Reverse of the Euro, 3 Drives pattern completes at 0.8643.
Yen -
The final breakout of the weekly Symetrical Triangle targets 109.55. Feels like the only thing that would trigger a reversal in the Yen will be the eventual correction in the Stocks and or US 10 year notes... But at this point I cant see anything that will stop the upward momentum.
