Gold/Euro - Cup & Handle (continuation pattern)


	LIVE Gold Prices $ \| E-Mail Subscriptions \| Update GoldSeek \| GoldSeek Radio

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page

GoldSeek.com >> News >> Story	Disclaimer

Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

Search

Gold/Euro - Cup & Handle (continuation pattern)

-- Posted Monday, 1 February 2010 | | Source: GoldSeek.com

By Gary Tanashian

From a subscriber this morning:

"Hello Gary, as a reader from Germany I appreciate your work a lot because we are a country without precious metals companies, experience and therefore little interest in this complex. I live in the Euro-Zone and therefore I would be very much interested in your view about Gold measured in Euro. Thank you very much in advance, --A"

Well, thank you very much 'A'. Had you not mailed this morning, I would not have taken a look at this compelling picture of gold-euro today. Aside from what I consider to be bullish fundamentals for gold in all major currencies, even as gold takes a much needed breather in USD, it looks technically compelling in Uncle Buck's chief competition in the toilet paper sweepstakes, the euro.

The chart shows a textbook Cup & Handle, complete with the right side high of late November, '09 having exceeded the February, '09 high. I always like to see the right side (most recent) higher then the left (previous high) as this implies momentum and allows for a higher measured target, which in this case would be around 10 if and when the handle breaks consolidation to the upside. I say if because we do not try to predict, but rather show the probabilities. The probabilities, both fundamentally and technically say 'GOLD GOING WELL HIGHER IN EURO'.

As a side note to all subscribers, if there is anything in your particular area of interest you would like to see highlighted in NFTRH, let me know and I'll at least try to see if it can work with the letter, or at least with the blog. I can get a little US-centric after all, from my vantage point within the belly of the Ponzi finance beast.

Gary Tanashian

Biiwii.com

Biiwii.blogspot.com

-- Posted Monday, 1 February 2010 | Digg This Article

| Source: GoldSeek.com

Previous Articles

news.goldseek.com >> Story

E-mail Page | Print | Disclaimer

Gold Headlines | Gold News Wire | Gold Price Charts | Gold Stocks | SilverSeek - Front Page

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.