Bullet Report - Gold Selloff Despite Brussels Attack -

Bullet Report – Gold Selloff Despite Brussels Attack

Mar 23, 2016Jeremy ParkinsonFinance0

Gold was the biggest mover overnight. Yellow metal jumped to $1259 following the Brussels attack, but it retraced to $1231 overnight as the USD strength and rising stock markets caused investors to sell it off. Trading Central Preference: short positions below 1249.00 with targets @ 1225.00 & 1220.00 in extension.

GBP/USD was also dumped yesterday as the Attack in Brussels increase speculation that voters will choose a Brexit in the June Referendum. GBP/USD has lost over 300 pips from its post FOMC highs over 1.4500. GBP/USD is posting new lows today at 1.4170. Trading Central Preference: short positions below 1.4290 with targets @ 1.4140 & 1.4050 in extension.

EUR/USD is lower on the day with new lows posted at 1.1180 so far. Last week EUR climbed as high as 1.1340 on news that the FED will likely not raise rates 4 times this year. Trading Central Preference: short positions below 1.1245 with targets @ 1.1165 & 1.1120 in extension.

European and US stocks shrugged off initial losses after the attack and closed higher for the day. Today’s picture is more mixed with Asian stocks mostly lower with the exception of China.

Traders will be watching US new home sales and oil inventories from the US today