Lahore, Pakistan -- (ReleaseWire) -- 07/01/2014 -- Omar Eltoukhy from Forex Mentor PRO has released the Gold Market Weekly Analysis. In his opinion gold traders should stay away from the market this week. The most important reasons being 4th of July and the jobs data release on Thursday this week! Omar trades forex and gold at Forex Mentor PRO Program. Forex Mentor PRO is an educational program that teaches traders how to trade on H4 and D1 timeframes. Anyone can try Forex Mentor PRO program for7 days for $1 only.
This is what Omar says about the gold market this week: “Not convinced that July 4th is enough of a reason to stay away from gold trading this week???? OK, smarty, here are a few more:
1) NFP is on THURSDAY of THIS WEEK. So that already puts THE biggest news announcement one day earlier than normal.
2) The US DOLLAR is still the WORLD RESERVE CURRENCY. 4th of July is a US holiday. Do the math. You think big gold traders are forgoing their bbq’s and sporting events to move the market this week??
3) We have TONS of other MAJOR news including Aussie Interest Rate announcements, (Aud is a HUGE producer of gold and by extension connected to CHINA, at HUGE consumer/buyer of gold). Oh, and the little matter of the ECB press conference which can bring huge volatility to the market.
4) I won’t be trading…………teeeee heeeee heeeeee (OK, this one doesn’t actually affect the market in any way, but I won’t be available for our daily and VERY BELOVED BY ME “pow-wows” in the forum)
If that’s not enough to convince you, I wish you the very best in your trading. Some of you have proven that you can trade gold outside my prescribed methods. Nothing could make me happier, but don’t say I didn’t warn you about this week!!”
About Omar Eltoukhy
Omar Eltoukhy is one of the mentors at Forex Mentor PRO Program (FMP). Omar teaches the members how to trade gold and forex. He started as a student at the FMP Program. With some training he turned pro and is now a mentor at FMP program.
For more information about the Forex Mentor PRO Program 7 days trial for $1 only, please visit the following website: