gold doing some nice consolidation !!!!! Technical Outlook: Saw an RSI Bullish Divergence into the €1180/85 lows Ran into Triangle resistance around €1275/80 Formed a Bearish Engulfing Candlestick today which implies a short-term peak Sees the 23.6% & 38.2% retracements at €1256 & €1242 respectively The 55 & 100-day sma's converge near €1258/60 Daily RSI has been initially rejected by the critical 60/65 level Elliot Wave analysis shows it is potentially completing wave-e of a Triangle consolidation (continuation pattern) – This implies significant move higher over the coming weeks RSI has broken above corresponding resistance IN ADVANCE to price (Leading Indicator)

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I like this SNB scenario drama... Of late the system is becoming allergic to fraud or corruption unlike the norm. Is the system mutating beyond the masters control http://www.zerohedge.com...uest-post-inside-job-snb

Nop. CHF is always a safe haven play. The SNB since 2009 (GFC) has been been trying to devalue the swissie with zero success. So this news gives speculators a green light to take on the CB by trying to breakdown their peg (EURCHF @1.20). Currency wars during recessions or deflations are nasty

AUDUSD - still stuck in long term triangle - just ranging. Bulls need 1.0450 to give in, bears need 1.0050 to breakdown. Once either side is resolved, then playing aussie becomes easy. I side with 1.0050 breaking down...