Lahore, Pakistan -- (ReleaseWire) -- 06/25/2014 -- Gold is once again in the news. With the recent turmoil in Ukraine and Iraq, investors are once again running towards gold as a safe haven. The poor economic performance of both US and Europe is also making the market bullish. Omar Eltoukhy from Forex Mentor PRO today released his Gold Outlook for this week. Omar has been trading gold successfully for quite some time. He trades gold along with other Forex Mentor PRO members. He issues biweekly video analysis of the gold market to the members. Anyone interested can try Forex Mentor PRO Program for 7 days for $1.
This is what Omar says: “Well, it seems gold is decidedly bullish at the moment. We have created a nice new triangle on the hourly chart after the huge move last week. We really don’t have much in the way fibwise upwards and we could see some great continuation of the push higher. Look to 1400 as the eventual area to target. Our immediate concern is twofold. For a short, look for 1312 to break downside with good price action and volume. Upside we would like to see a break of 1320. Remember, that still puts EIGHT HUNDRED pips in between that and 1400. Lots of $$$$ to cha-ching to get there!!
Wednesday is VERY VERY important as it is US GDP numbers which is the last of our “Big 3? this month and it might be a repeat of last week where we don’t really get “our trade” until that news is released. Stay patient and most of all STAY OUT of trades before that news drops. Regardless of eventual result, the time around the news can see huge spreads and jitters. Best trade once the news is in the market, at the end of candle close at the earliest. Thursday could be another huge day if the market is waiting for this news to make a move. Check the video, and let’s make some MONEY!!!”
About Omar Eltoukhy
Omar joined Forex Mentor PRO program as a student. He is now one of the mentors at Forex Mentor PRO program. In the beginning he was not a consistently successful day trader. However with the help of the Forex Mentor PRO program coaching, he became a consistently successful trader. He has developed a highly successful gold trading strategy that he shares with the other Forex Mentor PRO members.
For more information about the Forex Mentor PRO program 7 day trial for $1 only, please visit the following website: