The German constitutional court has today ratified Germany's participation in the ESM, with some conditions attached, as expected.
Gold has started moving higher again and is currently at new highs for this rally leg. However, attention will now quickly focus on the FOMC announcement tomorrow and we could see prices fall back into a "holding pattern" until then.
We think there is considerable potential for disappointment tomorrow and a sharp correction could follow the FOMC press release if the expectation of further QE or similar major economic stimulus measures is not met.
Today's video looks at the short term Elliot Wave count as it is developing and the strategy for our next trade.
Gold has started moving higher again and is currently at new highs for this rally leg. However, attention will now quickly focus on the FOMC announcement tomorrow and we could see prices fall back into a "holding pattern" until then.
We think there is considerable potential for disappointment tomorrow and a sharp correction could follow the FOMC press release if the expectation of further QE or similar major economic stimulus measures is not met.
Today's video looks at the short term Elliot Wave count as it is developing and the strategy for our next trade.