Dollar, Yen Up on Increased Risk Aversion

Wild Card – Gold:

Gold touched a new high yesterday of 143.15, though the charts are showing bearish trends today. The daily chart displays a bearish cross has formed on the commodity’s Slow Stochastic Oscillator, indicating for a potential downward price movement. Further evidence of a potential downward correction could be supported by the pair’s Relative Strength Indicator trading in the overbought zone. This could give commodity and forex traders a reason to go short on gold today.