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Gold continues to fall; might the CHF follow soon?

The one big mover overnight in other markets was Gold, which crashed through technical support at $1660 before settling near $1635. I’ve felt a strong correlation between the Gold price and the CHF, particularly over the last decade or so. I know a quick look at the weekly chart should turn you completely off EUR/CHF but with an automatic stop-loss level 100¬†pips¬†lower, I’ve taken a small long holiday trade just in case.

  1. $1630 is a major Fibo support. I expect it will hold, and the new year should change matters for gold.
    Also, have you noticed how well correlated AUDUSD and Gold are? Especially when gold falls, the AUD can’t seem to rise. I expect the AUD will take off once gold starts rising.

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