We are back with our weekly recap of the Forex markets heading into the weekend. We had a somewhat volatile week, however we ended up in pretty much the same place as where we started the week. We saw the Euro market consolidate over the course of the week after having recently broken a downward trendline to the upside.

"A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank."

-Ron Paul

Our weekly review of the currency markets will highlight several different markets including a look at the XAU/USD. The Gold market recently closed above its moving average line and we feel that this market could continue to move higher. There is not really any strong resistance above the market in its current position.

We are back with our weekly recap of the Forex markets heading into the weekend. Many markets are seeing an up week against the dollar. The GBP/USD has been up for 5 straight days and looks likely to continue moving upwards until it reaches the next resistance zone in the market. It has previously failed to break through this level 3 times so we will be watching carefully.

There are those times when the market looks ready to completely collapse, but then all of a sudden it surges to avoid disaster.

The conspiracy theorists among us would have us believe there is a group acting to help the markets avoid critical breakdowns and commence to rally.

Our weekly review of the currency markets will highlight several different markets including a look at the EUR/USD. Many people think that the recent decline in the EUR/USD is correlating to the decline in the GBP/USD. I don't like to correlate these two markets. Simply because the Euro is declining does not mean that we should be short the Sterling.

We are back with your weekly recap of the Forex markets heading into the weekend. The USD/JPY continues to consolidate sideways, unable to find any solid direction either upwards or downwards. On the longer term timeframe, we can see that this market has been on a downward trend and will need to break key resistance areas in order to reverse that pattern.

Often times the ushering in of the New Year brings many changes to trading and investing - some are welcome; some are not. Thus far in 2012 we have witnessed a lot of cross-currents in the market as well as some well worn correlations being invalidated. Luckily after 1 week in 2012 the picture is becoming a bit clearer, but we would point out a couple of developments worth noting that could derail the bulls hopes.

As we finish up the first week of 2012, let's take a look at the EUR/USD to start. This market continued on the trend that we saw at the end of the year where the Euro continued to lose ground, falling well below 1.30. Lets take a look at this market on the short and long term as well as several other currency markets.

I've had an opportunity to spend some time with my honorable father in-law (FIL) over the holidays and of course besides talking about the amazing ability for 18-year Glenfiddich to disappear seemingly before our eyes, the conversation turns to where it always does-gold! Despite my warning and lamenting that he should "think more about his loving daughter's inheritance in these tough times," he isn't budging; not even an ounce has escaped from its walled tomb to be thrown on the market.