Gold Rebound Tepid, GBP/USD Top Trade Opportunity Wednesday
Given the massive drop from gold Monday, we would expect a recovery move would cover significant ground as well. Yet, bulls roused limited thunder. Volatility and volume behind the precious metal still speak of fear; and the sting of a $200-plus, two-day tumble is still disorienting. Without a purely speculative drive to buy into a 'cheap' market, fundamentals could seal a permanent bear trend. Meanwhile, event risk is looking to throttle volatility into a breakout for GBPUSD and risk trends are threatening to catch traction for the yen crosses. We discuss these themes and more in today's video.
Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.
Sign up for John’s email distribution list, here.