By David Petch

This article is an update of Gold’s Obituary published back at the end of October 2014. Nothing has changed since that forecast, except the passage of time to arrive at where we are today. Analysis will cover a few currencies and different markets, which should provide a flavour of where things are heading over the next 6-8 months. As a hint, being long commodities as a whole is not recommended in the slightest.

I was going to start things off with the Canadian Dollar which should find support no sooner than 72 cents, but since it is a commodity currency, that should come as no surprise. Rather, I thought it would be more appropriate to cover the currency that stands to lose the most…the Euro. The monthly chart of the Euro is shown below, with the upper 21 MA Bollinger Band® above the 34 MA Bollinger Band indicates a very overbought condition still remains in effect.

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