Derek Frey sees an a rare overbought situation in gold, and marks the critical levels to watch with gold – on the way down. In his interview with Julie Sinha on Forex TV, Frey also addressed cable weakness and the unwinding of correlations as we are in a market turn point. Enjoy:
After a long run of gold and Euro, Frey sees a turn point that we’re now experiencing. In times of turn points, correlations tend to unwind before new correlations emerge. One of the signs that he sees is that pairs like EUR/USD are experiencing 250 pip swings over a short period of time – looking back in history, this is a sign that the tables are about to turn.
I sure agree with Derek Frey – EUR/USD is definitely stuck after a bull run – when will the downfall occur?
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