Gold : Bullish

• New observation : EUR down = Gold up. Old EUR vs Gold positive correlation broken down. If so, Gold vs USD correlation should turn positive.
• Will new relationship sustain? Too early to tell. But if it is correct, then being long Gold = same risk as short EUR. Watch book risk levels! Rebalancing time.
• Central bank reserve switching out of EUR into Gold is real (Gartman) and will likely continue given deep rooted problems within EU.
• Am positive on USD outlook here.
• Gold charts bullish against the other majors. 
• Think Gold/USD chart is lagging and will play catch up.
• So, buy Gold vs USD. Finally.