You said " as soon as" but even as I write they are printing money like hell… FED is printing, BoJ recently printed money and is about to print more, BoE is ready to print money, ECB is print money thru the Bond program, Czech National Bank is ready to ease, in South America (Perú, Chile, Colombia, Venezuela, Brasil) are printing money to intervene the FX market, China has a fixed exchange thru money printing, SNB is printing money to defend its floor, even Iran is printing money… So the facts are that Everybody is printing money. FX is a supply/demand market… more fiat money supply…gold is up.
Only when they stop (unlikely in the short term) we might see Gold go down…
Gold has been a “safe currency” no matter what market conditions, since 700 BC, so its is very unlikely to change in the next few months…
Well, what is the world economy?? America economy? Europe economy? because thanks the commodity boom some countries are outperforming the global economy… Can China be the next economic power?
Nice chart but I don’t see any weakness yet… price is taking off and testing short term resistances… no confirmation of a swing low yet
and by the way, price can go in the channel again…that is bullish signal… actually they are right now again within the channel…
My chart:
Tools used: Weekly Chart, S/R, Fibo, trendline
http://i1086.photobucket.com/albums/j449/yunny11/eurusd140.png
Will I go long right now?? NO, but for sure I won’t go short either… Kudos for those who went long at around 1640