SaxoTV

Faraday: Gold looking very attractive

522 views
June 22, 2015 commodities, commodity, commodity market, commodity prices, commodity trade, commodity trading, faraday, faraday research, gold, gold buy, gold buying, gold commodities, gold commodity, gold demand, gold dollar, gold investing, gold investment, gold levels, gold market, gold predictions, gold price, gold prices, gold spot, gold support, gold trade, gold trading, gold trading levels, goldprice, greece, greece bailout, greece crisis, greece debt, greece debt crisis, greece european union, greek, greek bailout, greek crisis, greek negotiations, greek talks, greexit, june 2015, light, research, saxo, saxo bank, saxo bank commodities, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotv, thomas, thomas light, trade, trade idea, trade ideas, trade view, trader, traders, trades, trading, trading commodities, trading floor, trading floor saxo tv, trading gold, trading idea, trading platform, trading risks, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, us dollar, usd, weak us dollar

Thomas Light from Faraday Research believes the weaker US dollar combined with the uncertainty in Greece is making gold look very attractive.

Looking at the spot gold market on the daily candle chart, Light says that last week’s price action was very significant. The market spent the first half of the week in an ever-tightening trading range as volatility contracted. That came to an end on Thursday when prices broke decisively higher, indicating that the market is now in range expansion mode.

Light is now anticipating a trending move to the upside and is looking to trade that.  His stops go below Friday's flag range at USD 1189 with profit targets coming in at the USD 1230 highs.