Thurs Jan 20

I now expect serious downside for Gold and Silver.
*
I’ve been asked to post a summary of what’s going on so here it is.
The extremely overdue equity correction has started at last. This
means USD strength – something I’ve been warning about for some
time. I’ve also warned about a serious gold and silver correction and
that’s started today as well. So the QE2 rally from August 2010 looks
like it’s finally ended.
*

EURUSD 2 x weekly charts hint at what’s ahead. Yes, it seems
we have another expanding wedge…
So it’s time EURUSD heads south.
*
GBPUSD short 1.5976
*
EURCAD and GBPCAD daily charts are still bullish.
*
The FTSE sell off today warns of further selling ahead.
*
GBPUSD short 1.5989 [closed 1.5987]
*
AUDUSD long 0.9956 [closed 0.9958]
*
GBPUSD short 1.5995 [closed 1.5969]
*
Overextended DOW / FTSE / DAX daily chart bearish warnings
continue. S&P500 gave more warning yesterday with a sell off.
*
GBPUSD bearish signal continues – a decent leg down is developing.
Last price 1.5925
*
USD strength has reappeared again for the usual reasons …
This results in Euro tracking sideways and giving mixed signals.
This will keep happening until we get the overdue dollar rally.

GBPUSD short 1.5995

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