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Binary Trading Strategy 16 Nov 2009

Gold bugs are very happy at the moment with the precious metal making record highs for 2 consecutive weeks.  This morning’s gold chart has seen the gold price open gapped up and hit a high of 1143.  Meanwhile on the forex markets last week’s biggest gainers were the “comm dollars” – AUD/USD and USD/CAD.  The Kiwi was not far behind thanks to its close ties to Australia.  However, it was a relatively quiet week for the other currency majors, although the euro has since taken off and hit 1.50 once again.  Equity markets also enjoyed a positive week overall with the FTSE100 and NASDAQ closing at their highest levels in over 12 months.

What’s Hot:

The Euro:  eur/usd & eur/jpy
Loonie:  USD/CAD

Bet/Trade Suggestion:

Gold is once again on the rise but the Aussie dollar has yet to follow suit despite a recent close, positive correlation.  This could simply be that the Aussie is lagging but may catch up once markets get going.

Market Movers for Today:

Top announcements all from the US with Core Retail & Retail Sales as well as a speech from Ben Bernanke and traders will be keen to hear any hints about future US policy.