A Closer Look at Gold and the Euro

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Includes: FXE, GLD
by: Scott's Investments

I previously called for a pullback in Gold which came to fruition. Below is a video from Adam Hewison which dissects gold in its current state.

The gold market has had a lot of publicity and been under intense scrutiny lately as investors, both conservative (Glenn Beck) and liberal (George Soros), are weighing in and recommending a position in gold.
Certainly the trend in gold remains positive, however there are some possible early chinks in the gold armor that he brings to your attention in this short video.
I also recently had my eye on a Euro short if certain price levels were breached. While those price levels never hit I still have my eye on the 121 and 118.79 (NYSEARCA:FXE) price levels but it may take a little longer to get there.
After dipping just below the 1.20 level, the euro had a brief rally that pushed this currency back up to the
1.24/1.25 area. This corrective rally did not change the longer-term outlook for this market.
In this new short video (less than two minutes in length), you'll see Hewison's updated thinking on this currency.
Disclosure: No positions

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