Gold normally moves with the Euro, but the yellow metal has not been keeping up the last few weeks. Notice how the Euro ETF (FXE) bottomed on 15-June and moved higher the last 2-3 weeks. However, the Gold ETF (GLD) did not bottom until 22-June and has yet to break resistance (blue dotted line).
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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