New Highs for the Gold Price (in Euros)
Source: Seeking Alpha, Tim Iacono (3/24/10)
". . .there appears to be a nice little 'wedge' pattern developing. . ."
The two curves in the graphic are the gold price denominated in U.S. dollars (red) and the price in terms of the U.S. Dollar Index (blue) which, for those of you who need a refresher, consists of about two-thirds the euro with smaller weightings for the Japanese yen, British pound, Canadian dollar, and a few other currencies.
The potentially very good news for American gold investors is that there appears to be a nice little "wedge" pattern developing over the last few months and these formations usually result in a big move up or down when they're complete.