Gold fell to a new low under 1167.30. This development confirms that wave 3 of (5) is in progress and opens the door to gold staying weak to considerably lower levels. See the weekly chart for the longer-term perspective.
[Approaching a bottom] Key Level: 1.1217
EURUSD continued lower Tuesday and closing on its lows remains vulnerable. That said, keep in mind that the current decline likely represents a terminal thrust from a triangle, a finishing fifth wave. It should bring the larger decline to an end. A rally in five waves at small degree would offer the first hint a bottom has been established.
The increased chatter in the financial press about the strength of the dollar and the resulting expectation that EURUSD will trade at parity is another reason to believe the decline from May 2014 is mature. The Daily Sentiment Index is once again in single digits. Are there any sellers left?
!['EUR-USD DAILY REPORT 11/03/2015
[Approaching a bottom] Key Level: 1.1217
EURUSD continued lower Tuesday and closing on its lows remains vulnerable. That said, keep in mind that the current decline likely represents a terminal thrust from a triangle, a finishing fifth wave. It should bring the larger decline to an end. A rally in five waves at small degree would offer the first hint a bottom has been established.
The increased chatter in the financial press about the strength of the dollar and the resulting expectation that EURUSD will trade at parity is another reason to believe the decline from May 2014 is mature. The Daily Sentiment Index (courtesy of trade-futures.com) is once again in single digits. Are there any sellers left?'](https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/11068404_599842956818831_2219339635759132780_n.jpg?oh=a758797df621052e994cd44c510213ac&oe=558FC5D1&__gda__=1434858683_0eec519471149906b05cec5cba08f3be)
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